Spanish construction and services company Ferrovial said its BAA unit has completed the sale of World Duty Free Europe (WDF). Under the agreement, Italy's chain of motorway shops Autogrill paid £547mln (EUR 690mln) for the duty free store business, plus £15.7mln in accrued interest. Debt-laden Ferrovial said the sale is in line with its ongoing non-core asset disposal program. WDF has entered into a 12-year concession agreement for the operation of duty free stores at BAA's seven UK airports. Proceedings of the sale will be used to repay debt, Ferrovial said in a statement. The deal was first announced in March. Autogrill is 57% owned by Italy's Benetton family.
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