Saudi Arabia sovereign wealth fund agrees to buy a 10% stake in Heathrow, as Spanish infrastructure giant Ferrovial are to sell their 25% share in Europe’s busiest airport.
The Saudi Public Investment Fund (PIF) are to buy Ferrovial’s 25% share and the French form Ardian will secure a 15% stake leaving Saudi with a 10% stake.
Saudi PIF is the latest sovereign wealth fund that now owns a share in Heathrow along with Qatar Investment Authority who already hold a stake in Heathrow.
PIF is controlled by Saudi Arabia’s Prince Mohammed bin Salman Al Saud.
Luke Bugeja, chief executive of Ferrovial Airports, said: “Over the last 17 years, we have been contributing to Heathrow’s transformation, together with our fellow shareholders, achieving some excellent milestones throughout our long-term role as investor.
“These include overseeing an investment of £12 billion, expanding its capacity with the construction of Terminal 2, and improving its operational performance.
“We are very pleased to have made Heathrow one of the world’s most connected airports and the busiest airport in Europe.”