Saudi Arabia’s Public Investment Fund (PIF) has completed the acquisition of a stake of approximately 15 percent in FGP TopCo, the holding company of Heathrow Airport Holdings Ltd., from Ferrovial SE and certain other FGP TopCo shareholders.
Concurrently, Ardian, the private investment house, has acquired approximately 22.6 percent of FGP TopCo from the same shareholders through a separate vehicle.
Turqi Al-Nowaiser, Deputy Governor and Head of International Investments, said that, “PIF is pleased to be investing in Heathrow Airport, a vital U.K. asset, and a world-class airport. We believe in the importance of infrastructure as a key sector in supporting the transition to net zero.”
“Heathrow acts as a crucial gateway to the world, and we look forward to supporting Heathrow’s management in its efforts to secure the sustainable growth of the airport and to continue to maintain its position as a global aviation hub,” Al-Nowaiser added.
The investment in Heathrow Airport is in line with PIF’s strategy to support important sectors and businesses as long-term partners as part of its global portfolio of assets.
Earlier this year, French private equity fund Ardian and Saudi Arabia’s Public Investment Fund signed an agreement to sell the bulk of its 25 percent stake in Heathrow airport while keeping 5.25 percent.
Under the terms of the revised agreement, infrastructure funds managed and advised by Ardian will acquire 22.6 percent while Saudi Arabia’s Public Investment Fund will acquire 15.0 percent of TopCo concurrently from the Sellers, through separate vehicles.
