More Heathrow shareholders plan to sell stakes alongside Ferrovial

More Heathrow shareholders plan to sell stakes alongside Ferrovial

Ferrovial agreed to sell its 25% stake in Heathrow in November for £2.4bn to French private equity company Ardian (15%) and the Saudi Public Investment Fund (10%).  Now 3 other Heathrow shareholders that together own 35% of the airport, have said they want to sell out too, as part of £2.4bn Ferrovial deal agreed.  It has been suggested, by someone in the know, that Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), Singapore sovereign wealth fund GIC and the UK’s Universities Superannuation Scheme all intend to exit. So with 25% and 35%, that is 60% of Heathrow’s ownership.  As part of the Ferrovial deal, the airport’s other shareholders were given the option to sell their own stakes at the same valuation, with the Saudis and Ardian offered first refusal. This could be a problem for the Ferrovial sale, and the £2.4bn deal could collapse if all the shareholders cannot find buyers.  Ferrovial said it was a “condition” of the transaction that the “tagged shares” were also sold.  Neither Ardian nor the Saudis are compelled to buy the new shares on offer. The Saudis don’t want more than 10%. They might be able to find a 3rd investor to come in and buy the 35%.  . Tweet   More Heathrow shareholders plan to sell stakes alongside Ferrovial USS, Canada’s CDPQ and Singapore’s GIC push to exit, putting £2.4bn deal with Saudis and private equity at risk By Philip Georgiadis in London  (FT) JANUARY 16 2024 Ferrovial agreed to sell its 25% stake in the UK’s biggest airport last November for £2.4bn to French private equity co

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