Spanish construction group Ferrovial yesterday said it had agreed to sell its 25% stake in FGP Topco, the parent company of Heathrow Airport Holdings, for £2.4bn ($3bn).
There are two buyers: French asset manager Ardian will take 60% of Ferrovial’s stake, and Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, will take 40% of Ferrovial’s stake.
The deal is subject to regulatory and contractual conditions.
Luke Bugeja, chief executive of Ferrovial Airports, said: “Over the past 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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