- The two buyers are Ardian and The Public Investment Fund
- Ferrovial became majority shareholder of Heathrow in 2006
Ferrovial announces that an agreement has been reached for the sale of its entire stake (c.25%) in FGP Topco, parent company of Heathrow Airport Holdings Ltd., for 2,368 million pounds. The current book value of Ferrovial's stake in Heathrow Airport Holdings Ltd. as per Ferrovial's consolidated accounts is zero. The agreement has been reached with two different buyers, Ardian and The Public Investment Fund, who would acquire Ferrovial's shareholding in c.15% and c.10% stakes respectively, through separate vehicles.
The transaction is subject to complying with right of first offer (ROFO) and full tag-along rights, which may be exercised by the other FGP Topco shareholders pursuant to the Shareholders' Agreement and the Articles of Association of the company.
Full completion of the acquisition under the agreement is also subject to the satisfaction of applicable regulatory conditions.
Luke Bugeja, CEO, 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 pounds, 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."
Ferrovial has been an active part of the aviation industry since 1998, becoming one of the most experienced companies managing and developing the world's top airports. Ferrovial remains fully committed to advancing its airport business and investing in the sector, in which it holds a 50% share in Aberdeen, Glasgow and Southampton airports in the United Kingdom, a 60% in Dalaman Airport in Turkey and 49% in JFK Airport New Terminal One in New York.
Ferrovial has had a strong presence in the United Kingdom for over 20 years across all the company's business lines. The UK continues to be a key market, where Ferrovial remains committed to delivering value and sustainable growth for each of its business lines, as well as positive social value for its clients and employees based in this market.
This press release contains inside information within the meaning of article 7(1) of the Regulation (EU) No 596/2014, of the European Parliament and of the Council, of 16 April 2014, on market abuse.
About Ferrovial
Ferrovial, a leading global infrastructure operator, is committed to developing sustainable solutions. The company operates in more than 15 countries and has a workforce of over 24,000 professionals worldwide. Ferrovial is dually listed on the Dutch and Spanish stock exchanges and is a member of Spain's blue-chip IBEX 35 index. It is part of the Dow Jones Sustainability Index and FTSE4Good, and all its operations are conducted in compliance with the principles of the UN Global Compact, which the company adopted in 2002.
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