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SAUDI

The Morning Standard

|

December 11, 2023

SAUDI Arabia is set to buy a 10% stake in London's Heathrow airport from Spanish infrastructure giant Ferrovial at an eye-watering price and could take effective majority control of London's Heathrow airport with other investors considering selling their stakes at the given price.

SAUDI

As per reports, the Saudi Public Investment Fund (PIF) along with French private equity group Ardian, in which Saudi Arabia is an investor agreed to buy a 25% stake held by Spain's Ferrovial SE. The $3 billion deal was about 70% above Morgan Stanley's estimated valuation, Bloomberg reported. Other investment funds could follow and sell their stake to PIF As per the terms of the airport's shareholder agreement, other investors can sell their stakes at the same price, which gives Heathrow

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