Ardian, Saudi fund to buy 37.6% stake in Heathrow

Ferrovial - Heathrow’s largest shareholder - said on Friday that it has agreed to sell a 37.6% stake in the London airport to the Saudi Public Investment Fund and French private equity firm Ardian for just under £3.3bn.

The Spanish construction firm said PIF and Ardian had made a revised offer of £3.26bn.

Ardian and PIF will hold stakes of around 22.6% and 15.0% each, respectively, through separate vehicles.

Ferrovial said it will remain a shareholder, with a 5.25% interest in the airport.