Airports operator BAA has raised £132.5 million after agreeing to sell 33 properties owned as part of a joint venture with Morley Fund Management.
The sale raised £265 million, which will be split between BAA and Morley.
It is part of a programme of selling off non-core businesses by its owners, Ferrovial, in order to pay off debts incurred after its £10 billion purchase of BAA in 2006.
Meanwhile, BAA is coming under increasing pressure to sell off some of its UK airport assets amid concern about the way it is managing the business and its stronghold in the UK.
By Bev Fearis
