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Ferrovial to sell its 25% stake in London's Heathrow for $3 billion

Credit: REUTERS/CARLOS BARRIA

Adds detail in paragraphs 3-5

MADRID, Nov 28 (Reuters) - Infrastructure giant Ferrovial FERF.AS has reached an agreement with two different buyers to sell its entire 25% stake in Britain's busiest airport, Heathrow, for 2.37 billion pounds ($3.01 billion) the company said in a statement.

Ferrovial FERF.AS said the buyers for the stake in FGP Topco - the parent company of Heathrow Airport Holdings Ltd. - were private equity fund Ardian and Saudi Arabia's Public Investment Fund (PIF), who would acquire Ferrovial's shareholding in stakes of 15% and 10%, respectively.

The transaction is still subject to regulatory conditions and must comply with the right of first offer and full tag-along rights, which may be exercised by the other FGP Topco shareholders, Ferrovial added.

Ferrovial bought an indirect stake of 55.87% in Heathrow Airport Holdings in 2006. It sold 10.6% to Qatar Holding LLC in 2012 and eventually reduced its stake to 25% in 2013.

In August 2022, three people familiar with the talks told Reuters about interest in Ferrovial's stake from Ardian, which discussed a possible joint proposal with PIF with its own advisers.

($1 = 0.7876 pounds)

(Reporting by Corina Pons; Editing by David Latona)

((corina.pons@thomsonreuters.com; 0034 690725854; Reuters Messaging: corina.pons.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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