The consortium stalking UK airport operator BAA has hired Macquarie Bank as joint adviser on a potential takeover bid, in a move that staves off the threat of a rival offer from the Australian investment group.

The bidding consortium, which comprises Spanish construction conglomerate Ferrovial, Singapore investment group GIC Special Investments and Caisse de Dépôt et Placement du Québec, today appointed Macquarie alongside existing adviser Citigroup.