Spanish construction giant Ferrovial said Thursday it had closed the sale of a 19.75% stake in Heathrow Airport Holdings for 2 billion euros ($2.1 billion) to French investment firm Ardian and Saudi Arabian sovereign wealth fund PIF.
Other shareholders in FGP Topco Ltd, the parent company of Heathrow Airport Holdings, sold an additional 17.87% stake, bringing the purchase by Ardian and PIF to 4 billion euros for 37.62%, Ferrovial said.
Later on Thursday, PIF also announced the completion of the acquisition of approximately a 15% stake in the holding company of Heathrow Airport Holdings Ltd, and said the investment is in line with PIF’s strategy of leveraging significant businesses through long-term partnerships.
The definitive agreement for the stake sale was announced in June, under which Ardian and PIF would acquire 22.6% and 15%, respectively, of FGP Topco Ltd, an airport construction and management company.
Ferrovial, which builds and manages highways and airports, is focusing its expansion in the United States, where it is building a new terminal at New York’s John F. Kennedy International Airport.- Reuters
Ferrovial closes sale of 19.75% stake in Heathrow Airport for 2 bln euros
