Ferrovial, the largest shareholder in Heathrow Airport Holdings, is selling its 25% stake in Heathrow Airport for £2.4bn (€2.7bn) to investment manager Ardian and Saudi Arabia’s Public Investment Fund (PIF) in separate deals.
Spanish transport company Ferrovial said it had agreed to sell a 15% interest in Heathrow Airport’s parent company FGP Topco to France-based Ardian and the remaining 10% to the Saudi sovereign wealth fund.
The deal, once completed will make Ardian and PIF shareholders in London’s largest airport alongside Qatar Investment Authority (20%), Caisse de dépôt et placement du Québec (12.62%), Singapore’s sovereign wealth fund GIC (11.2%), Australian Retirement Trust (11.18%), China Investment Corporation (10%) and the UK’s Universities Superannuation Scheme (10%).
Ardian has invested in the UK market in the past. In 2018, it sold its stake in London Luton Airport.
Despite the sale, Ferrovial said it would continue to expand its airport business and make investments in the sector. The company maintains a significant presence in the UK, holding a 50% stake in Aberdeen, Glasgow and Southampton airports. It also holds a 60% share in Dalaman Airport in Turkey and a 49% stake in JFK Airport’s New Terminal One in New York.
Luke Bugeja, the CEO of Ferrovial Airports, said: “Over the last 17 years, we have been contributing to Heathrow’s transformation, together with our fellow shareholders, achieving some excellent milestones throughout our long-term role as investor.
“These include overseeing an investment of £12bn, expanding its capacity with the construction of Terminal 2, and improving its operational performance. We are very pleased to have made Heathrow one of the world’s most connected airports and the busiest airport in Europe.”
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