Ferrovial sells part of its BAA Stake

IT WAS announced on October 10 that Spanish infrastructure company Ferrovial, in a bid to reduce its debts, had sold 5.9% of its stake in BAA.  The buyer was Alinda Capital Partners, an American infrastructure company, which reportedly paid £282 million.
The Spanish firm still owns 49.99% of BAA shares but by reducing its stake to below 50% it no longer has to include BAA’s debts on its balance sheet.  An immediate reaction was a healthy rise in BAA’s share price on the London stock market, giving the firm a value of approximately £4.8 billion.  Ferrovial’s share price also rose on the news.