9-Mar-2011 10:37 AM

HNA interested in BAA stake: report

HNA Group has reportedly expressed an interest in acquiring a 10% stake in Ferrovial unit BAA Airports Ltd (Bloomberg/SkyNews/Reuters, 08-Mar-2011). Ferrovial may reportedly value the stake at around GBP300 million. Ferrovial is planning to sell a 10% stake in BAA with non-binding offers expected in 1H2011. HNA is reportedly one of a number of parties interested in the stake. HNA, China's fourth-largest airline group, is the parent of Hainan Airlines Co Ltd. The company owns more than a dozen airports in China.