Sponsor Message:
Civil Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
LGW To Be Put Up For Sale?  
User currently offlineVV701 From United Kingdom, joined Aug 2005, 7459 posts, RR: 17
Posted (8 years 2 months 2 weeks 4 days 23 hours ago) and read 3947 times:

BAA are reported to be considering putting London Gatwick Airport up for sale for £2.5 billion (US $ 4.725 billion) as a defence against the two unwanted take-over bids from the Spanish construction company, Ferrovial, and the consortium led by US bank, Goldman Sachs:

http://telegraph.co.uk/money/main.jh...?xml=/money/2006/06/04/cnbaa04.xml

It appears that this move is beoing made to demonstrate that the breakup value of BAA is worth considerably more than that of the current bids. The article says that LGW 'makes up only about 15 per cent of BAA's assets'. While a sale of £2.5 billion would therefore suggest that the asset value of BAA is of the order of £16.7 billion compared to its current market capitalisation £9.783 billion based on a share price of £9.05 compared to Ferrovial's recently increased offer of £9.00 a share, this ignores BAA's not insignificant debt incurred, for example, in building T5 at LHR.

When Ferrovial launched 'a massive dawn raid' to buy BAA shares on the London Stock Exchange on Friday morning it 'largely failed as big shareholders . . . refused to sell their shares [at the prevailing market price]'.

Will BAA survive? What happens to BAA's development plans for LHR East if it does not?

[Edited 2006-06-04 13:55:58]

Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
Early 777-200 To Be Broken-Up For The First Time posted Wed Nov 15 2006 10:35:03 by Leelaw
5x 744s And 4x 777s Put Up For Sale By UA posted Fri May 7 2004 14:40:42 by Na
Next Airline To Be Up For Sale posted Wed Nov 10 2004 22:00:31 by BMI701EGCC
Shaping Up To Be A Bumper Year For A&B posted Fri May 27 2005 00:19:25 by Art
TAP Air Portugal May Be Up For Sale! posted Wed Jul 19 2000 21:20:37 by Reno_air
Astraeus Up For Sale posted Sun Jun 4 2006 14:00:01 by Humberside
20% Of BMI Up For Sale - Who Will Buy Them? posted Thu Jan 27 2005 00:45:32 by Gilesdavies
Is Luton Airport Up For Sale? posted Fri Oct 8 2004 22:14:39 by Gilesdavies
Rumour: BBD Has Learjet & De Havilland Up For Sale posted Mon Jul 19 2004 16:15:56 by Planemaker
First 757 To Be Broken Up posted Tue May 11 2004 22:13:37 by Col