Spain’s Ferrovial bids for three British airports

Spain's Ferrovial has offered to buy three British airports from its partners in Heathrow Airport Holdings (HAH), a source with knowledge of the matter said yesterday, in a deal that would give regulators less control over its profits.

The source did not give details on how much the Spanish infrastructure group was prepared to pay for Aberdeen, Glasgow and Southampton airports. Spain's Expansion newspaper reported the offer was worth £800 million. HAH and Ferrovial declined to comment.

The firm has discussed a joint bid for the airports with at least two Australian funds, Macquarie and Industry Funds Management (IFM), Expansion said, citing industry sources. Macquarie and IFM declined to comment. Unlike Heathrow, none of the three airports are regulated by the Civil Aviation Authority (CAA). – ( Reuters )