Ferrovial SA has hired Goldman Sachs Group and HSBC Holdings to sell a 10% minority stake in the share capital of UK-based airport operator BAA, a person familiar with the situation told Dow Jones.

Ferrovial will use the proceeds from the sale to pay down debt and to finance new projects in infrastructure and services. The Spanish group saddled itself with debt when it led a consortium that took over BAA for £10.3bn in 2006.