Spanish construction group Ferrovial said on Monday it has received bank approval to restructure the debt of its British subsidiary, the airports operator BAA.
Spanish construction group Ferrovial said on Monday it has received bank approval to restructure the debt of its British subsidiary, the airports operator BAA.
In a statement to the Spanish stock market regulator, Ferrovial said the restructuring of its £7.65bn (EUR 9.66bn) pile of debt was granted by nine banks and represents a major step forward for the new financial structure of BAA. The Spanish construction group bought BAA for £10bn in 2006.
