The airport operator BAA has been ordered by the Competition Commission to sell 3 of its seven airports, bringing an end to BAA’s monopoly of airports ownership in London and Scotland. In the toughest ever corporate divestiture ordered by the competition watchdog, BAA, a subsidiary of Ferrovial, Spain, will have to sell Stansted, Gatwick and one of either Edinburgh or Glasgow airports within 2 years. Most prized Heathrow airport will remain under BAA control.

The total value of three airport sales is estimated between £3.5 and £4 billion, by the analysts. Infrastructure funds, foreign airports, pension and sovereign wealth funds are expected to bid for the sale.
The Competition Commission has reserved the right to carry out sales by appointing an independent divestiture trustee if BAA fails to comply with completion of disposal within specified dates.

The world’s biggest airport operator hit back at Commission’s unprecedented move, alleging that it was based on flawed analysis and the recommended remedies were impractical in existing economic conditions. BAA has 2 months to appeal to the Competition Appeal Tribunal against Commission’s order.
The Commission would appoint a monitor to oversee sales. Approving suitable purchasers will be watchdog’s prerogative.

BAA has been given concession to decide which of the Scottish airports it would like to sell.

Things to consider:
Sale And Rent Back from Home Owners Advice