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Ferrovial will sell World Duty Free

Published:  23 July, 2008

Ferrovial plans to sell the UK travel retail firm World Duty Free (WDF) within the first three quarters of 2008.

The Spanish company - which owns WDF's parent company BAA - was widely expected to signal its intent to sell the 67-store chain after Ferrovial's summer acquisition of BAA.

Mark Riches, Managing Director of the WDF, told The Business/Trend Ferrovial "would seek to have this [sale] probably concluded by mid next year".

WDF operates across 7 UK airports with sales of 306 million in the first nine months of 2007. The company will open another store in conjunction with the launch of Heathrow Terminal 5 in March.

The Spanish construction group acquired BAA in 2006 for 10 billion with Finance Director Nicolas Villen declaring soon after he did not deem the WDF retail arm a "strategic asset".

WDF employs around 2,000 staff across its 7 operations with liquor accounting for 20% of its sale revenue.

Recent exclusive product launches from WDF include Bailey's Flavours and Singleton of Dufftown Whisky.