Ferrovial has reached a deal with its partners in Glasgow, Aberdeen and Southhampton airports to acquire, through its Ferrovial Aeropuertos subsidiary, a 50% stake in those airports. Its 50% partner in the deal is Australia’s Macquarie, investing through its Macquarie European Infrastructure Fund 4. The transaction is valued at £1.05 billion (US$1.7 billion). The airports are currently owned by Heathrow Airport Holdings (HAH), where Ferrovial has a 25% stake. The deal, expected to close by January 2015, was accompanied by a pledge by Ferrovial and Macquarie to invest in improvements to the airports’ facilities and services.