British firm plans airport sales to boost ports bid

British property and transport firm the Peel Group is in talks to sell a stake in its airports unit to fund a joint-bid for Britain's only listed ports company, Forth Ports , Reuters reported.

Forth Ports said it had rejected a US$920 million takeover bid from a consortium made up of Deutsche Bank's RREEF infrastructure fund, Arcus and the Peel Group but that it would talk to suitors after its annual results on March. 22.

Media reported that the Peel Group was in talks with Canada's Vancouver Airport Services about the potential sale of its airports business.

Peel Airports is comprised of Liverpool John Lennon, City Airport Manchester, Robin Hood Doncaster Sheffield and Durham Tees Valley airports and could raise around $303.9 million according to media reports. .

(Source: Cargo News Asia)