Moorcrofts recently acted for TBI (the operator of Luton, Belfast International and Cardiff airports in the UK and a subsidiary of Spanish listed company Abertis). Abertis is a major infrastructure and airports operator across Europe and beyond. Moorcrofts worked with PWC and the TBI in-house legal team in a group reorganisation involving, amongst other things, four separate capital reductions using the new Companies Act 2006 procedure. Moorcrofts was delighted to be asked to work with the TBI in- house legal team on this project.