HNA Group interested in Ferrovial's BAA unit

Chinese airline and tourism company HNA Group has reportedly expressed an interest in acquiring a 10% stake in Ferrovial's BAA Airports unit. Ferrovial plans to sell a 10% stake in BAA with non-binding offers expected in 1H2011. The company has reportedly valued the stake at GBP300 million. HNA is China's fourth-largest airline group and owns more than a dozen airports in China.

Shares in Ferrovial jumped 4.2% yesterday, while Hochtief was up 3.8% and TAV gained 2.8%.

Selected ABD daily share price movements (% change): 08-Mar-2011