In a strategic move, Saudi Arabia’s Public Investment Fund (PIF) has finalized a share purchase agreement to acquire a 10% stake in FGP Topco Limited, the holding company of Heathrow Airport Holdings, from Ferrovial. The deal, subject to Right of First Offer (ROFO) and tag-along rights, aligns with PIF’s long-term investment strategy.
The PIF expressed satisfaction in supporting Heathrow, a global aviation hub, emphasizing its commitment as a long-term partner. Heathrow, now known as London Heathrow, stands as one of Europe’s busiest airports. Other major stakeholders in Topco include the Qatar Investment Authority with a 20% stake.
Ferrovial’s decision to sell its 25% holding marks the end of its investment in the UK airports’ operator. The deal, valued at $3 billion, signals a substantial windfall for Ferrovial, which had previously considered the holding’s worth at zero. The PIF’s diversification efforts, led by Crown Prince Mohammed bin Salman, position it as a significant global investing force with aspirations to reach $2 trillion in assets by 2030.
