Ferrovial sells its shares in London Heathrow Airport for 2.735 billion euros
Spanish company Ferrovial has reached an agreement to sell its stake in Heathrow Airport – London’s main airport by passenger volume – to Ardian and The Public Investment Fund for 2.735 billion euros (£2.368 billion).
According to the infrastructure operator, Ferrovial held a 25 % stake in FGP Topco, the parent company of Heathrow Airport Holdings Ltd.
This stake has been divided between the investment companies Ardian, which has taken a 15% stake in FGP Topco previously held by the Spanish company, and The Public Investment Fund, which has bought the remaining 10%, through separate transactions.
The Netherlands-based entity has been part of the development of London’s infrastructure for the past 17 years, overseeing a 13.861 billion euro (£12 billion) investment or the construction of the airport’s Terminal 2.
Ferrovial, majority shareholder
The sale agreement by Ferrovial, which became Heathrow’s majority shareholder in 2006, is subject to certain rights of the remaining shareholders, according to the Amsterdam-based statement, which said the current book value of Ferrovial’s stake in Heatrow Airport Holdings Ltd is “nil”, as reflected in the company’s consolidated accounts.
Luke Bugeja, CEO of Ferrovial Airports, said: “Over the past 17 years as an investor, we have helped transform Heathrow, along with the other shareholders, achieving great things, including overseeing a £12 billion investment, expanding its capacity with the construction of Terminal 2 and improving its operational performance. We are delighted to have made Heathrow one of the world’s most connected and busiest airports in Europe.
In the aviation sector since 1998
Ferrovial has been active in the aviation sector since 1998, becoming one of the most experienced companies in the management and development of the world’s main airports, a sector in which it remains fully committed to the development of its airport business and investment, with a 50% stake in Aberdeen, Glasgow and Southampton airports in the United Kingdom, 60% in Dalaman airport in Turkey and 49% in the New Terminal One at JFK airport in New York.
The group headed by Rafael del Pino has had a strong presence in the UK for more than 20 years with all the company’s business lines, which remains a key market, where Ferrovial remains committed to providing value and sustainable growth for each of its business lines, as well as positive social value for its customers and employees based in this market.
