Investors from Saudi Arabia and France plan to take a bigger stake in Heathrow as shareholders sell their shares
- PIF and Ardian have offered to buy 37.6% of West London airport
Investors from Saudi Arabia and France will take a larger share of Heathrow if shareholders sell their shares.
Saudi sovereign wealth fund PIF and French private equity group Ardian have offered to buy 37.6 percent of west London airport for £3.26 billion.
The pair initially agreed to buy the 25 percent stake sold by Spanish group Ferrovial for £2.4 billion. But now that some other Heathrow shareholders are selling their shares, they are buying more.
A bigger share: Saudi sovereign wealth fund PIF and French private equity group Ardian have offered to buy 37.6 percent of the airport
The deal will see Ardian own 22.6 percent of the airport, while the Saudi wealth fund will own 15 percent. Ferrovial retains a 5.25 percent stake. Ardian said the agreement ‘reiterates its strong commitment to investing in Britain’.
The French fund struck a deal with investment firm Digital 9 Infrastructure earlier this year to buy the data center and crown jewel from wireless network investor Verne Global for around £450 million.
Ardian bought a 49 percent stake in London Luton Airport in 2013 before selling his stake to investment manager AMP Capital in 2018.
The Saudi wealth fund bought an 80 percent stake in Newcastle United football club for £300 million in 2021 and has increased its investments in golf.