Infrastructure manager, Ferrovial has announced an agreement to sell its 25 percent stake in London Heathrow Airport (LHR) to Ardian and The Public Investment Fund.
This deal is valued at 2.368 billion GBP and is currently subject to certain rights of the other shareholders.
Ferrovial became the majority shareholder of Heathrow in 2006 through its stake of 25 percent in FGP Topco, the parent company of Heathrow Airport Holdings Ltd.
Under this latest agreement, this share will be acquired by two different buyers, Ardian and The Public Investment Fund, who would gain 15 percent and 10 percent stakes respectively.
Luke Bugeja, CEO, 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 £12 billion pounds, 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.
Ferrovial states that it remains fully committed to advancing its airport business and investing in the sector.
The company also holds a 50 percent share in Aberdeen (ABZ), Glasgow (GLA) and Southampton (SOU) airports in the UK, as well a 60 percent share in Dalaman Airport (DLM) in Turkey and 49 percent in JFK’s New Terminal One in New York.
