Spain’s Ferrovial plans to sell a 10 per cent stake in BAA, the owner of London’s Heathrow airport, to pay off debt and fund other projects.

In 2006 the Madrid-based infrastructure group led a consortium that acquired BAA for €16 billion (£14.2 billion), as part of a plan to expand its activities beyond construction.

Ferrovial will now reduce its 55.9 per cent stake in the UK business, but will still remain the largest shareholder.

10. Colombia (EPI: 76.8)

Despite its relatively small size, Colombia is the second most biologically diverse country on earth, home to about 10 percent of the world’s species. This biodiversity results from Colombia's varied ecosystems—from the rich tropical rainforest to the coastal cloud forests to the open savannas. Recently, the Colombian government has taken steps to make the country more eco-friendly.

Caterpillar Inc. has signed an agreement with investment firm 3i to acquire MWM Holding GmbH, a leading global supplier of highly sustainable alternative engines.

The total transaction value amounts to €580 million (approximately $810 million) and will be paid in cash.

The Nigerian unit of Africa-focused oil and gas company Afren has agreed to buy a stake in oil fields in Nigeria from Royal Dutch Shell, Total and Eni.

First Hydrocarbon Nigeria (FHN), in which Afren has a 45 per cent stake, has agreed to buy a 45 per cent stake in OML 26 in the Delta State for $187.5 million (approximately €135 million). The price includes the cost of the acquisition and FHN's share of planned development.

The remaining 55 per cent stake will be held by the state-run Nigerian National Petroleum Corporation.

Thompson Creek Metals has emerged as the sole owner of Terrane Metals Corp. after closing transactions with Goldcorp and Terrane shareholders.

Goldcorp will receive an aggregate of C$240.5 million in cash plus 13.9 million common shares of Thompson Creek (representing approximately 8 percent of Thompson Creek's issued and outstanding shares).

Terrane Metals is an exploration and mine development company focused on the development of the Mt. Milligan copper-gold and Berg copper-molybdenum-silver projects in British Columbia, Canada.

Mining giant Xstrata has said it will spend R4.9 billion (€510 million) to boost capacity of ferrochrome production and cut costs with a more energy-efficient smelter in South Africa.

Xstrata, one of the world's biggest producers of ferrochrome, has approved the second phase of expansion at its Lion ferrochrome complex, which is struggling to meet power needs.

Under the plans, a new smelter will be built with a capacity of 360,000 tonnes per year, boosting the group's overall ferrochrome capacity to over 2.3 million tonnes.

With possibly the lowest entry costs of any business, the cleaning industry is continually squeezed on price, but companies such as Mid-American Cleaning Contractors are trying to provide better value in other ways, as Alan Swaby learns.

As the US private-sector economy has stalled, more businesses are seeking to win more work from federal, state and local governments. SM&A has made helping companies do just that its one and only business for the past 28 years. Keith Regan learns how the company is adapting to new market realities to help clients prepare for, win and effectively complete government contracts.

Denver-based oil and gas exploration and production company Kodiak Oil & Gas Corp, is extending its assets in the Williston Basin of North Dakota.

The company has announced a definitive purchase and sale agreement with a private oil and gas company to acquire high-working-interest, contiguous Bakken/Three Forks Williston Basin leasehold and producing properties for $99 million in cash and the direct issuance of 2.75 million shares of common stock to the seller at a price of $4.00 per share.  

UK oil explorer Max Petroleum has announced the discovery of a zone of oil in a well in Kazakhstan, sending its shares soaring.

Testing at the UTS-1 well on the Uytas prospect in Western Kazakhstan has revealed 16 metres of oil at shallower depths than the current position, with the oil column potentially stretching for 86 metres.

The company said it would now drill ahead from the current intermediate depth of 300 metres to explore deeper targets at around 900 metres, before returning to the shallower zones to test the find.