Saudi Arabia's Public Investment Fund (PIF) and a French private investment company Ardian has entered into an agreement to acquire a significant stake in London Heathrow Airport after the decision of several airport shareholders to sell assets. This is reported in the Ardian press release.
PIF and Ardian will acquire a 37.6% stake in London Heathrow Airport for 3.26 billion pounds ($4.26 billion) as part of an agreement for the "right to join" in a deal to sell assets owned by Spanish infrastructure company Ferrovial SE, which is the majority shareholder of Heathrow Airport. PIF and Ardian had previously planned to acquire 25% of the shares. After the deal closes, Ferrovial will retain a 5.25% stake in London Heathrow Airport.
Qatar Investment Authority currently holds a 20% stake in Heathrow Airport, other investors include Caisse depot et placement du Québec, Singapore's sovereign wealth fund GIC and Alinda Capital Partners from the United States.
PIF's offer to acquire London Heathrow Airport raised concerns about overseas ownership of key infrastructure in the UK. Previously, the UK transferred ownership of the ports of the Middle East, and DP World, a Dubai-based company, acquired shipping and cargo complexes in the Gateway port of London and in Southampton.
Ardian is a private investment company in the field of real estate, infrastructure and credit capital. She specializes in co-investment, share buybacks, expansion, growth and other direct investments. The headquarters is located in Paris (France).
PIF is the sovereign investment fund of Saudi Arabia. The company invests in various sectors including infrastructure, healthcare, financial services, real estate, food, agriculture and industry in the Middle East and North Africa region. The headquarters is located in Riyadh (Saudi Arabia).
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