22 October 2010
Ferrovial SA, the Spanish company that brought BAA Ltd for £14.2 billion in 2006, plans to sell a 10% stake in the company to reduce debt and fund other projects. According to analysts, Ferrovial would be able to remove BAA debt from its books if it reduced its stake to below 50%. Ferrovial, which also has substantial interests in construction and toll roads, owes £21.6 billion (€24.2 billion), of which £13.4 billion (€15 billion) is accounted for by BAA.
http://www.guardian.co.uk/business/2010/oct/22/ferrovial-sells-10-per-cent-of-baa