Saudi Arabia’s Public Investment Fund will buy a 10% 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 Ferrovialsells down its 25% holding. The remaining 15% 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.
