Spanish construction and infrastructure group Ferrovial said it had sold Belfast airport to a fund operated by Dutch bank ABN Amro for £132.5 million ($234.3 million).

Ferrovial said the move was part of its strategy of concentrating its airport activities in Britain on facilities operated by the British Airports Authority (BAA), which it owns.

It said Ferrovial Aeropuertos had sold Belfast City Airport, which did not come under BAA, to ABN Amro Global Infrastructure Fund in association with Faros Infrastructure Partners.

Last month British regulators called for BAA to sell three of its seven airports - two in London and one in Scotland - in order to end a dominance which they said hurts both passengers and airlines.

Following an investigation, the Competition Commission (CC) said it was seeking views on which two of London's Heathrow, Gatwick and Stansted airports should be off-loaded, resulting in the break-up of BAA.

After a period of consultation, the CC will also decide whether Edinburgh or Glasgow airport in Scotland should be relinquished.

Heathrow, the world's biggest airport in terms of international passenger traffic, is the jewel in the crown of BAA's portfolio.

BAA described the watchdog's findings as "flawed" and its remedies as "disproportionate and counter-productive.

British airlines have repeatedly called for the break-up of BAA, which was bought in 2006 by a consortium led by Ferrovial for £10.23 billion.