Investors from Saudi Arabia and France are set to take a bigger share of Heathrow as shareholders sell their stakes.
Saudi sovereign wealth fund PIF and French private equity group Ardian have offered to buy 37.6 percent of the west London airport for £3.26 billion.
The couple initially agreed to buy the 25 per cent stake being sold by Spanish group Ferrovial for £2.4bn. But as some of Heathrow’s other shareholders have sold, they are buying more.
Under the deal, Ardian will own 22.6 percent of the airport, while Saudi Arabia’s wealth fund will hold 15 percent. Ferrovial will maintain a 5.25 percent stake. Ardian said the deal “reiterates its strong commitment to investing in the UK”.
The French fund earlier this year reached a deal with investment firm Digital 9 Infrastructure to buy Verne Global, the data center and wireless network investor’s crown jewel, for around £450m.
A larger share: Saudi sovereign fund PIF and French private equity group Ardian offered to buy 37.6 percent of the airport.
Ardian bought a 49 per cent stake in London Luton Airport in 2013 before selling its stake to investment manager AMP Capital in 2018.
Saudi Arabia’s wealth fund bought an 80 per cent stake in football club Newcastle United for £300 million in 2021 and has increased its investment in golf.