BAA today announces the sale of its US retail management contracts business for USD 50m (GBP 32m) to AMU Holdings Inc., a wholly-owned subsidiary of Prospect Capital Corporation.
The sale reflects BAA's ongoing strategy to divest non-core assets. The US business represents four retail development contracts at Pittsburgh International Airport, Boston Logan International Airport, Cleveland Hopkins International Airport and Baltimore-Washington Thurgood Marshall International Airport, with various expiries between 2017 and 2022.
The sale is unconditional and closed on Friday, 30th July 2010.
Further information from: -
Malcolm Robertson, BAA Limited, 07788 567680
Don Hunter, Finsbury, 44 (0) 207 251 3801
