Spain's FCC Nets $175M For Baggage-Handling Branch

Law360, New York (May 11, 2012, 5:26 PM EDT) -- Spanish infrastructure and services group FCC will sell its baggage-handling operation, serving airports in its home country and Belgium, for €135 million ($174.6 million) in a deal with leading cargo-handling firm Swissport International Ltd., the companies said Friday.

After regulators sign off on it, the Flightcare sale will represent a key step in FCC's ongoing effort to unload noncore interests so it can focus on its more profitable environmental and urban services branches, as well as its infrastructure and renewable energy businesses, FCC said.

For Swissport,...
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