RSS feedferrovial
’The contagion spreads, parte dos
More pain for Europe’s peripherals on Thursday morning:
And once more the financials are taking the brunt of it.
And anything related to public spending, particularly if it has loads of debt:
Snap news
Breaking pre-market news on Friday,
- Graham Chipchase to succeed Leslie Van de Walle as Rexam chief executive – statement.
- Grupo Ferrovial says it will inject £500m equity injection into its London airports group – statement.
Evolution of an airport price
Watch that asset price drop!
BAA has (finally) agreed the sale of London Gatwick. The airport goes to Global Infrastructure Partners, the owners of London City, for £1.51bn.
It’s a decent price for GIP considering that Gatwick’s regulatory asset base (RAB),
BAA ordered to sell key airports
The UK competition watchdog on Thursday ordered BAA to sell three of its seven UK airports, ending its monopoly ownership of key airports in London and in Scotland. In the most draconian corporate divestiture ever demanded by the Competition Commission,
Groups exit Gatwick bid
Two of the five consortia considering bids for Gatwick airport have abandoned the process six weeks before final binding offers are due to be submitted, posing a problem for majority owner Ferrovial of Spain.
Airport purchasing parity
All buyers are not created equal, at least in the UK Competition Commission’s eyes.
The antitrust watchdog has set out some very strict criteria for any potential buyer of BAA’s assets today, after confirming the airports company,
Weekend catch-up
In case you missed these developments:
US regulators close Silver State Bank
US regulators closed Silver State Bank on Friday, the 11th US bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions.
Ferrovial opposes BAA break-up plan
Ferrovial of Spain on Tuesday warned that a proposal by UK regulators to break up BAA, its UK subsidiary, would lead to poorer standards of services and a delay in the delivery of new runways. Despite its opposition to the Competition Commission’s findings,
BAA schadenfreude
For anyone who’s had the pleasure of circling Heathrow at 13,000 feet for two hours (capacity-restrictions) or queuing in line at security for 40 minutes (new anti-terror rules), today’s report on the BAA monopoly from the UK Competition Commission will be welcomed.
Ferrovial refinancing hope
Ferrovial, the Spanish infrastructure group that controls UK airports operator BAA, said Tuesday it hoped to finalise its much-delayed £9bn debt refinancing by mid-year. The company warned that timing was still contingent on improved credit market conditions,
Canadians lead Heathrow property bid
A Canadian pension plan manager is leading the race to buy a half-share in a swath of warehouses and offices around Heathrow for about £600m from BAA, the airports operator, reports The Times. La Caisse de Dépôt et Placement du Québec was part of the consortium,
Lampert fund discloses Citi stake
An affiliate of Edward Lampert’s hedge fund on Tuesday disclosed a 15.24m share stake in Citigroup, raising speculation that the billionaire might push for changes at the largest US bank. RBS Partners,
That BIG debt issue from BAA reportedly set for March
It promises to be the biggest refinancing of its kind and may well attract the very highest credit rating — which is not bad for a company currently struggling under a debt pile that has left its estimated net interest cover at just 1.3 times.