Ferrovial, a Spanish construction company, announced yesterday, Thursday July 3rd, the sale of its remaining 5.25% stake in London Heathrow Airport. In a statement, the Spanish business referred to an announcement made on February 26, 2025, by Ferrovial and other shareholders of FGP Topco (the parent company of Heathrow Airport Holdings Ltd) to sell 10% of the company’s share capital.
Ferrovial, La Caisse (previously CDPQ), and USS concluded the sale when all required conditions were met. Ferrovial, La Caisse, and USS sold their full holdings, which amounted to 5.25%, 2.65%, and 2.1%, respectively, for a total consideration of more than €1.03 billion, with Ferrovial’s portion valued at over €551 million.
As a result of the transaction, Ferrovial will recognise an expected benefit of €31 million by June 30, 2025, in addition to the benefit recorded in 2024, which is the fair value of the financial investment.
Ferrovial announced the sale of its entire stake in London’s Heathrow Airport at the end of February. The company signed a binding agreement with the investment fund Ardian to sell its 5.25% stake in FGP Topco, the parent company of Heathrow Airport Holdings, for more than 550 million euros, according to the National Securities Market Commission (CNMV).
The deal was contingent on Topco shareholders exercising their right of first offer, as outlined in the shareholders’ agreement and bylaws. The agreement also required that all applicable regulatory criteria be met before the transaction could be fully closed.
On December 12th, 2024, Ardian, a renowned worldwide private investment group, acquired a 22.6% stake in Heathrow from Ferrovial, CDPQ, and USS, becoming its largest shareholder. Ardian currently owns 32.6% of the company after acquiring an extra 10% interest.
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