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Abertis may sell UK airports as it tries to ease €14bn debt Abertis may sell UK airports as it tries to ease €14bn debt
(7 months later)
Three UK airports could change hands this year as part of a major review by their Spanish owners.Three UK airports could change hands this year as part of a major review by their Spanish owners.
Cardiff airport is expected to be bought by the Welsh government next month, while Belfast airport and the contract to run Luton airport may also be sold.Cardiff airport is expected to be bought by the Welsh government next month, while Belfast airport and the contract to run Luton airport may also be sold.
Abertis, the company that owns the airports as part of a portfolio of 29 worldwide, is looking to pay down its €14.1bn (£12.2bn) debt pile by offloading its UK assets.Abertis, the company that owns the airports as part of a portfolio of 29 worldwide, is looking to pay down its €14.1bn (£12.2bn) debt pile by offloading its UK assets.
Bosses have already been negotiating with the Welsh government for the past three months over the sale of Cardiff airport and politicians are expected to make an offer in the next few weeks.Bosses have already been negotiating with the Welsh government for the past three months over the sale of Cardiff airport and politicians are expected to make an offer in the next few weeks.
A spokesman for Abertis said: "We are conducting a review of all our airport businesses to see if a sale is possible. All options are open, including the sale of our UK airports."A spokesman for Abertis said: "We are conducting a review of all our airport businesses to see if a sale is possible. All options are open, including the sale of our UK airports."
The company, which is the world's largest toll road operator, has appointed Citi and AZ Capital to explore its options of selling off some non-core assets. Airports made up 8% of the group's €4bn revenues in 2012.The company, which is the world's largest toll road operator, has appointed Citi and AZ Capital to explore its options of selling off some non-core assets. Airports made up 8% of the group's €4bn revenues in 2012.
The recent sales of Stansted and Edinburgh airports by Heathrow Airport Holdings for a combined £2.3bn are expected to be scrutinised by Abertis because both were sold for more than expected.The recent sales of Stansted and Edinburgh airports by Heathrow Airport Holdings for a combined £2.3bn are expected to be scrutinised by Abertis because both were sold for more than expected.
Last year Luton council, the owner of Luton airport which is run by Abertis on a 30-year lease and could be sold, threatened to scrap the contract unless the Barcelona-based company pledged to expand the airport.Last year Luton council, the owner of Luton airport which is run by Abertis on a 30-year lease and could be sold, threatened to scrap the contract unless the Barcelona-based company pledged to expand the airport.
That led to a £100m upgrade being agreed in August, with the hope of doubling passenger numbers to 18m a year.That led to a £100m upgrade being agreed in August, with the hope of doubling passenger numbers to 18m a year.
Cardiff Airport has struggled in recent years, with passenger numbers halving in five years to 1 million. The Welsh government is planning to buy the airport for around £50m and is understood to have been conducting due diligence since November last year.Cardiff Airport has struggled in recent years, with passenger numbers halving in five years to 1 million. The Welsh government is planning to buy the airport for around £50m and is understood to have been conducting due diligence since November last year.
Belfast International has more than 4 million passengers and was purchased by Abertis in 1996 for £72m.Belfast International has more than 4 million passengers and was purchased by Abertis in 1996 for £72m.
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