Saudi Arabia’s Public Funding Fund mentioned late Thursday it had taken a 15% stake in FGP Topco Ltd, the corporate that owns London’s Heathrow Airport.
Spanish building big Ferrovial mentioned earlier Thursday it had closed the sale of a 19.75% stake within the UK capital’s busiest airport for two billion euros ($2.1 billion) to the PIF and French funding agency Ardian.
Different shareholders of FGP Topco Ltd offered a further 17.87% stake, taking Ardian and PIF’s buy as much as 4 billion euros for 37.62%, Ferrovial mentioned.
Ferrovial, which grew to become a shareholder in Heathrow in 2006, is promoting the whole lot of its 25% stake in FGP Topco Ltd because it focuses extra on its US airport investments, together with in New York’s John F Kennedy Airport.
In an announcement, PIF deputy governor and head of worldwide investments Turqi Al-Nowaiser mentioned, “The PIF is happy to be investing in Heathrow Airport, a significant UK asset and a world-class airport. We consider within the significance of infrastructure as a key sector in supporting the transition to internet zero.”
“Heathrow acts as a vital gateway to the world, and we look ahead to supporting Heathrow’s administration in its efforts to safe the sustainable development of the airport and to proceed to take care of its place as a worldwide aviation hub,” he mentioned.
The PIF, which manages some $925 billion in property, added within the assertion that the Heathrow funding was in step with its technique to assist essential sectors and companies as long-term companions.
In December 2023, the PIF agreed to amass a ten% stake in FGP Topco Ltd.
Qatar’s sovereign wealth fund, the Qatar Funding Authority, has a 20% stake within the airport, making it its second-largest shareholder after the most recent PIF acquisition.
Different homeowners embrace Caisse de dépôt et placement du Québec, GIC, the Australian Retirement Belief China Funding Company and Universities Superannuation Scheme.
