FERROVIAL: BAA to sell Edinburgh Airport
19-Oct-2011 In accordance with the provisions of article 82 of the Securities Market Law (Ley del Mercado de Valores), and further to the Significant Information sent on March 30, July 19, September 15 and October 7, 2011 (registration numbers 141237, 147846, 150045 and 151103 respectively), FERROVIAL, S.A. (the "Company" or "FERROVIAL") hereby notifies the Comisión Nacional del Mercado de Valores of the following:
SIGNIFICANT INFORMATION
BAA Limited ("BAA"), partially-owned by FERROVIAL, has issued the accompanying communication on its decision to proceed with the sale of Edinburgh airport.
The Spanish translation of this communication is reproduced for information purposes only.
Madrid, October 19, 2011
Santiago Ortiz Vaamonde
Secretary of the Board of Directors of Ferrovial, S.A.
BAA TO SELL EDINBURGH AIRPORT
Following the Competition Commission's decision requiring BAA to sell either Edinburgh or Glasgow airport, BAA is today announcing that it has decided to sell Edinburgh airport.
BAA is now commencing preparations for a sale and expects to formally approach the market in the New Year with a view to agreeing a sale by Summer 2012.
BAA Chief Executive, Colin Matthews said:
"Edinburgh is a great airport with a great team and a great future and we will be very sorry to see it leave BAA. We remain committed to Scotland and we will continue our long-term investment to improve passenger and airline experience at Aberdeen and Glasgow, as well as at Edinburgh until the sale is complete.
"Choosing which airport to sell has been a difficult decision. Edinburgh Airport has shown itself to be a strong and resilient asset throughout the economic downturn. Passenger numbers at Edinburgh have grown by more than 6% over the past year and in an uncertain market we expect it to be an attractive asset to prospective buyers. Glasgow Airport has great opportunities for future growth and development and we think BAA is well-placed to build on its recent success. Both airports are of national importance and have a bright future."