Qatar Holding Purchases 20% Stake in BAA

Doha , August 18 (QNA) - Qatar Holding LLC announced Saturday an agreement with Spanish Ferrovial and other investors to buy 20% indirect shareholding of BAA Ltd. (BAA), which operates Heathrow airport among others. The Qatari fund released a statement today revealing that it now owned a 20% stake in BAA after it bought shares from Ferrovial and FGP Topco. The deal was only pending the European Union's Competition Authorities approval. Also in its statement, Qatar Holding said that it still viewed the UK as an attractive investment destination. They expressed their belief that there were "long-term fundamental strength in the British economy." The fund expressed its hope that it can work positively with other shareholding companies in order to enhance BAA's reputation even further. Qatar Holding also said in the statement that they considered the deal a fantastic opportunity to enhance the fund's reputation, particularly in the infra-structure sector. Barclays Bank was Qatar Holding's financial advisor in the deal. Qatar Holding is a wholly-owned subsidiary of the state's Qatar Investment Authority. BAA runs other airports Stansted Airport, Glasgow and Aberdeen Airports in Scotland as well as Southampton Airport as well. (QNA)