Ferrovial has sold its stake in Heathrow for more than £2.3 billion.
Private investment house, Ardian, and the Public Investment Fund (PIF), the sovereign wealth fund of Saudi Arabia, have agreed to buy Ferrovial’s entire stake (25 per cent) in FGP Topco, the parent company of Heathrow Airport Holdings Limited.
The deal will be transacted via separate financial vehicles in two separate 15 per cent and 10 per cent stakes, subject to the proper regulatory conditions.
This includes right of first offer (ROFO) and full tag-along rights which may be exercised by other FGP Topco shareholders.
Click here to read more about Heathrow Airport’s construction activities
Ferrovial became a majority shareholder of Heathrow in 2006, during which time it has overseen an investment of £12 billion.
In the UK the company also has a 50 per cent share in Aberdeen, Glasgow and Southampton airports.
It said it remains “fully committed” to advancing its airport business and investing in the aviation sector.
“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,” said Luke Bugeja, CEO, Ferrovial Airports. “These include overseeing an investment of £12 billion, 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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