BAA has agreed to sell its stake in the southern Italian airport of Naples.
The airport operator owns 65% of GESAC, which operates the airport, and plans to sell this for €150m to Italian infrastructure fund F2i.
The deal means BAA is completely focused on the UK market, which it has been gradually doing over the past four years.
Since 2006, BAA has sold Budapest Airport, airport interests in Australia, four US retail management contracts, and World Duty Free.
BAA was also forced to sell Gatwick airport last year, by the UK consumer watchdog the Competition Commission.
Colin Matthews, BAA's chief executive officer, said: "Now is the right time for Naples International Airport to move ahead under new owners and for us to sharpen our focus on Heathrow and our other UK airports."
The sale is expected to be complete by the end of the year, although it depends on Italian competition clearance and the expiry or waiver of rights held by GESAC's minority shareholders, the City and Province of Naples.
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