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Spanish construction and services conglomerate Ferrovial SA will cut its stake in UK airports operator BAA to just below 50 percent but has no plans to sell more, the company said on Monday.
Ferrovial said in a statement to the Spanish securities regulator that it would sell 5.88 percent of BAA investment vehicle FGP Topco for 325 million euros
Through that sale Ferrovial's stake in BAA will drop to 49.99 percent from 55.87 percent, the company said.
"It's been a good sale at a great price but we don't plan to send any more at the moment," a spokesman for Ferrovial told Reuters.
The buyer of the stake is Alinda Capital Partners, the statement said.
Ferrovial said there are on pending conditions on the sale, which it expects to close by end-October.
