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International Business Times
International Business Times
Business
Olivier DEVOS, With Valentin BONTEMPS in Madrid

Saudi Wealth Fund Scoops Up 10% Of London Heathrow Airport

Spain's Ferrovial says it has reached a 2.37 billion pound ($3.01 billion) deal to sell its 25% stake in Heathrow Airport to Paris-based Ardian and Riyahd's Public Investment Fund (PIF) (Credit: AFP)

Saudi Arabia's sovereign wealth fund is to buy ten percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose departure from the hub after almost two decades leaves Qatar as its biggest shareholder.

Ferrovial late Tuesday said it was offloading its 25 percent stake for nearly GBP2.4 billion ($3.0 billion), with the other 15 percent going to French private equity group Ardian.

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