Spain's Ferrovial exploring options for 25% stake in Heathrow - report
Spain's Ferrovial is reportedly exploring options for its 25% stake in London's Heathrow and has held preliminary talks with external advisers on the future of its holding in the airport.
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Reuters cited sources as saying that the early stage discussions come amid interest from private equity firm Ardian, which has held talks with its own advisers on a possible joint proposal with Saudi Arabia's Public Investment Fund (PIF).
It was understood that Ferrovial has yet to make a final decision and the discussions may not result in a sale.
Reuters said Ferrovial and Ardian both declined to comment on the Heathrow discussions, while PIF did not immediately respond to a request for comment.
According to Reuters, JPMorgan analysts calculated in May that Heathrow is worth about €24.3bn including debt. By these estimates, Ferrovial's Heathrow holding has an equity value of €611m.