Business
BAA may hurry sale of Gatwick Airport
London | May 10, 2008 12:01:13 AM IST
The debt-laden owner of London's Heathrow and Gatwick airports may have to accelerate the planned sale of Gatwick to complete a refinancing effort. The Times of London reported Saturday that BAA, struggling to pull off a $19.5 billion debt refinancing, has succeeded in convincing its investors to pump an additional $779 million into the company, but that a proposed sale of Gatwick Airport - which could raise an additional $3.9 billion - might have to be hurried along. The newspaper says Australian investment bank Macquarie has been advising BAA on the possible sale of its assets for several months, and that shares of Grupo Ferrovial, BAA's Spanish majority stakeholder, fell Friday on concerns the refinancing might not be accomplished. BAA told the Times that it's still working on the details of the refinancing plans, stressing that it has yet to finish negotiating with its lending banks on the possible transference of a large portion of its debt into a new deal structure. (UPI)
6 run over by speeding trains Pondy under tight security to prevent untoward incidents Opposition parties stage walkout over Wakf lands Centre approves Rs 920 cr to modernise meteorologial centres Common entrance test for Gurukula Schools held Minister denies misappropriation in house construction Shriram Properties to extend footprints Dow gives Rs 1 crore grant to hold free Jaipur Foot camps
| 
