Heathrow Airport Holdings Limited tonight announced that it has agreed to sell its 100% interest in Stansted Airport to Manchester Airports Group for €1.8 billion (£1.5bn).
Colin Matthews, chief executive of Heathrow, said: "Stansted Airport and its people have been part of our company for a long time. It has been named by passengers as ‘the world’s best airport for low-cost airlines’ for two consecutive years at the Skytrax World Airport Awards, and we are proud of its achievements.
"We wish the new owners every success and are confident the airport will continue to flourish. We will continue to focus on improving Heathrow, Glasgow, Aberdeen and Southampton airports."
The deal effectively completes the break-up of BAA which was ordered to sell Stansted, Gatwick and a Scottish gateway (Edinburgh) by the UK's Competition Commission to end its perceived airport monopoly in the UK.
Its remaining airports now operate under individual brands.
The Stansted deal is expected to be completed next month.