Saudi Arabia to buy 10% stake in Heathrow airport in ownership reshuffle

Saudi Arabia’s Public Investment Fund will buy a 10 per cent stake in London Heathrow Airport as part of a shareholder reshuffle, becoming a partial owner in one of Europe’s busiest airports alongside the Qatar Investment Authority.

The fund is buying the stake as Spain’s Ferrovial sells down its 25 per cent holding. The remaining 15 per cent held by the infrastructure firm will go to Ardian, a Paris-based private equity firm, according to a statement late Tuesday. For Ferrovial, the deal represents a £2.37 billion ($3 billion) windfall for a holding it had previously valued at zero.