(Ferrovial) History

BAA announces the beginning of the disinvestment of Edinburgh Airport, following the decision by the UK's Competition Commission (CC) that either Edinburgh or Glasgow Airport must be sold.

Heathrow Airport reports a monthly passenger record in April, with 5.84 million passengers, up 31.5% on the same month in 2010. December 2011 is the busiest month of all time at Heathrow, serving 8 million passengers. This represents an increase of 12.7% over the previous year.

Sale of BAA’s stake in Naples International Airport to the entity controlled by F2i SGR, an Italian infrastructure fund, for 150 million Euros. BAA holds a 65% stake in GESAC, the company that has the concession of Naples International Airport until 2043. This transaction marks the successful conclusion of BAA’s strategy of focusing on airports in the United Kingdom and, accordingly, the divestment of international and non-core assets.

Sale of BAA’s stake in Airport Property Partnership (APP) to the British firm Segro for 244 million pounds sterling (almost 280 million Euros). The divestment included 18 buildings, mainly warehouses and hangars in the vicinity of Heathrow, Stansted, Edinburg and Gatwick airports. These assets represent 380,000 meters of floor space.

Sale of Gatwick, the second largest airport in the United Kingdom to a consortium controlled by Global Infrastructure Partners (GIP). The agreement with Global Infrastructure Partnership concludes the sales process initiated in September 2008 before the end of the investigation on the airport industry conducted by the British Anti-Trust Authorities.

Sale of BAA’s assets corresponding to the non-industrial portfolio of Airport Property Partnership (APP).

Disposal of the Word Duty Free Europe Limited (WDF) division.

Sale of the entire stake in Belfast City Airport to ABN Amro Global Infrastructure Fund, with the participation of Faros Infrastructure Partners.

Sale of BAA’s stakes in the airports in Hungary and Australia. This deal was in keeping with Ferrovial’s strategy to concentrate on its airport business in the United Kingdom in BAA; the operator of the British airports.

The disposal of the stakes in the six Australian airports to the company owned by Hastings Fund Management Limited totaled 775 million Australian dollars (495 million Euros).

The sale of its stake in Budapest Airport to Airport Holding Kft, a consortium led by Hochtief AirPort GmbH, was for 1,309 billion pounds sterling.

Acquisition of BAA by a Ferrovial-led consortium of companies comprising Caisse de dépôt et placement du Québec and an investment company managed by GIC Special Investments Pte Ltd. Its main market is southwest London, handling more than 125 million pax/year. Following the BAA acquisition, Ferrovial became the leading private infrastructure operator worldwide, managing seven airports in the United Kingdom: Heathrow, Gatwick, Stansted, Southampton, Aberdeen, Glasgow, and Edinburgh; and, in the rest of Europe, the airports in Naples and Budapest.

Disposal of the stake in ITA; a company owning 15% of airports in southeast Mexico. Initially decisive, the size of the holding, however, was not sufficient and did not allow a direct voice in the strategic decision-making process and in the development of this group of airports.

Acquired Belfast Airport in North Ireland from Bombardier, an airport with 3 million pax/year capacity.

Acquisition of a 19.8% stake in Melbourne and Launceston airports, 15% of Perth, and a 10% stake in three Northern Territory airports.

Concession of the airport at Niagara Falls in the State of New York, the second privatized airport in the United States.

Acquisition of Bristol International Airport, the most important one in southeast England. Bristol is one of the regional airports closest to the city of London. Ferrovial becomes the first Spanish company to win a tender for acquiring an airport in Europe. Traffic at Bristol Airport is 3.8 million pax/year. With an investment of 325 million Euros, shared equally by its partner, the Australian financial group McQuarie Bank, the consortium acquired a 100% stake in the airport.

Assignment for the execution, upkeep, and operations of the Cerro Moren Airport in Antofagasta, Chile. The airport’s traffic is 500,000 pax/year. The refurbishment and enlargement of the terminal implied an investment of 10 million Euros. The concession period is 10 years.

First foray into private airport management with the acquisition, in a consortium, of a 24.5% stake in Aeropuertos del Sureste de México, comprising the airports in Cancun, Mérida, Veracruz, Villahermosa, Oaxaca, Minatitlan, Cozumel, Huatulco and Tapachula. Traffic of more than 10 million pax/year.