International law firm Freshfields Bruckhaus Deringer has advised Ferrovial, indirect owner of 49.99% of BAA, on an agreement to sell 10.62% of FGP Topco (the holding company which owns BAA) to Qatar Holding for £478 million.
As part of the same transaction, Britannia Airport Partners and GIC have also sold to Qatar Holding, in proportion to their holdings in FGP Topco, shares equivalent to 5.63% and 3.75% respectively.
The deal is conditional upon obtaining approval from the European Competition authorities and is expected to be completed before the end of the year.
London corporate partners Laurie McFadden, Frank Miller and Karen Fountain led the Freshfields team, supported by corporate associates Andrew Matthews and Ross McKay. Tax advice was provided by tax partner Sarah Falk and associate Sarah Bond. London finance partner Marcus Mackenzie, supported by finance associate Anna Robinson and Brussels antitrust, competition and trade partner Rafique Bachour, together with associate Tom Morgan, also advised.
