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Heathrow Airport: Ferrovial sells 25% stake

The share is in the hands of the Saudi Pif and French Ardian funds

Spanish multinational Ferrovial Airports, operating in the transport sector, will sell its entire stake in the parent company of Heathrow Airport Holdings. This is a stake of around 25% in the company FGP Topco, which was purchased by the French private equity firm Ardian and the Saudi sovereign fund The Public Investment Fund (PIF). The deal is worth 2.36 billion dollars.

"Over the last 17 years we have contributed to the transformation of Heathrow, together with our fellow shareholders, achieving excellent milestones in our long-term role as investors. These include overseeing a 12 billion dollars investment, expanding its capacity with the construction of Terminal 2 and the improvement of its operational performance. We are very pleased to have made Heathrow one of the best-connected airports in the world and the busiest airport in Europe", said Luke Bugeja, CEO of Ferrovial Airports.

The agreement reached by Ferrovial with the two stakeholders provides for the acquisition of approximately 15% by Ardian, while the remaining 10% will go into the hands of the Saudi fund. The transaction is subject to compliance with the pre-emption right that can be exercised by the other shareholders of the FGP Topco company.

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AVIONEWS - World Aeronautical Press Agency