Spain’s Abertis considers to sell UK airports in move to cut debt

Spanish mobility and telecom infrastructures manager Abertis Infraestructuras SA (MCE:ABE) is considering divesting its UK airports as one of the options under a strategic review aimed at cutting its EUR14.1bn (USD18.6bn) debt, a company spokesman revealed.

Abertis has been in talks with the Welsh government concerning the sale of its Cardiff airport over the past three months and expects to get an offer of around GBP50m (USD75.8m/EUR57.3m) in March. It could also divest Belfast airport and the contract to run the Luton airport.

Abertis has hired Citigroup Inc (NYSE:C) and AZ Capital SL to advise it on its alternatives related to the sale of non-core assets.

The airports division, which comprises 29 airports worldwide, accounted for 8% of the group’s total revenues of EUR4bn in 2012.