BAA sells McArthurGlen interests

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BAA has concluded its exit from non-core businesses by selling most of its remaining interests in the McArthurGlen designer outlet centres to the Mayfair Limited Partnership

The company's sale of World Duty Free Americas in 2001 was part of this strategy.

The sale, which will generate £165m ($260m) to BAA, is in respect of all BAA's stakes comprising 100% at York, 75% at Mansfield, 50% at Livingston and 25% at Ashford.

Assets retained by BAA for the time being include an 11.2% minority stake in the centre at Swindon, and two sites held for development adjacent to this centre.