Spanish infrastructure firm Ferrovial is hoping to receive bids for 10% of its shareholding in UK airports operator BAA by the end of this month.

A Ferrovial spokesman says the company aims to finalise the sale process in the first half of this year.

Ferrovial holds a 55.87% stake in BAA. The remainder is split between Britannia Airport Partners, which holds 26.48%, and GIC, which has 17.65%.

Ferrovial took over London Heathrow operator BAA in 2006. It announced in October that it would sell a minority stake in order to fund infrastructure projects and pay down debt.

Source: Air Transport Intelligence news