Ferrovial closes sale of 19.75% stake in Heathrow Airport for 2 billion euros

(Reuters) -Spanish construction giant Ferrovial said on Thursday it closed the sale of a 19.75% stake in Heathrow Airport Holdings for 2 billion euros ($2.10 billion) to French investment firm Ardian and Saudi Arabia’s sovereign wealth fund PIF.

Other shareholders of FGP Topco Ltd, the parent company of Heathrow Airport Holdings, sold an additional 17.87% stake, taking Ardian and PIF’s purchase up to 4 billion euros for 37.62%, Ferrovial said.

Later on Thursday, PIF also announced the completion of acquisition of approximately a 15% stake of the holding company of Heathrow Airport Holdings Ltd, saying that the investment is in line with the PIF strategy to empower important businesses through long-term partnerships.

The final agreement to sell stakes was announced in June saying that Ardian and PIF would acquire 22.6% and 15% respectively of FGP Topco Ltd.

Ferrovial, which builds and manages highways and airports, is focusing on its expansion in the United States, where it is building a new terminal at New York’s John F. Kennedy International Airport.

($1 = 0.9538 euros)