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Saudi increases stake in London Heathrow
A revised offer will see the Saudi Arabia sovereign wealth fund take a larger stake in the owner of London Heathrow Airport.
A new expanded deal has been reached with Ferrovial for French private equity firm Ardian and the Saudi Public Investment Fund to buy stakes of 22.6% and 15% respectively.
The deal is valued at a combined £3.26 billion.
The two had previously agreed to take stakes of 15% and 10%.
Ferrovial will retain a small shareholding in Heathrow parent FGP Topco.
The stake purchase is ‘in line with its strategy to support the business as a long-term partner,’ the Saudi PIF said.
Ferrovial is also mulling the sale of stakes it has in three other UK airports – Aberdeen, Glasgow and Southampton.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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