Ferrovial, Macquarie Buy UK Airports

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Spain’s Ferrovial, which holds a leading share in London’s Heathrow airport, says it is buying three more British hubs for 1.3 billion euros ($A1.95 billion) with Australian group Macquarie.

The two construction giants struck a deal to jointly buy the airports in the Scottish cities of Glasgow and Aberdeen and the southern English city of Southampton for STG1 billion ($A1.83 billion), Ferrovial said in a statement on Thursday.

A consortium owned half by Ferrovial’s airport subsidiary and half by “Macquarie Infrastructure Fund 4” has reached a deal to buy all the shares in the airports, currently owned by Heathrow Airport Holdings.

More than 10 million passengers passed through the three airports between January and September this year, according to the holding company.

The deal is subject to approval by European regulators and is expected to be sealed by January 2015, the statement said.

Ferrovial has been expanding overseas as Spain slowly recovers from the crash of its domestic construction sector in 2008.

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