Spain's Ferrovial offers to buy three British airports

[MADRID] Spain's Ferrovial has offered to buy three British airports from its partners in Heathrow Airport Holdings (HAH), a source said, in a deal that would give regulators less control over its profits.

The source did not give details on how much the Spanish group was prepared to pay for Aberdeen, Glasgow and Southampton airports. Spain's Expansion newspaper reported the offer was worth £800 million (S$1.68 billion).

Ferrovial, which is the largest stakeholder in HAH with a 25 per cent share, has been on the hunt to strengthen its airport business as it seeks to diversify further from its construction business.