The Saudi public fund will take a 10% stake in London's Heathrow Airport, making Qatar its largest shareholder, following the sale by the Spanish group Ferrovial of the 25% it holds in the UK's main hub.
Last month, the airport announced that it would welcome more passengers than expected this year
The Saudi public fund will take a 10% stake in London's Heathrow Airport, making Qatar its largest shareholder, following the sale by the Spanish group Ferrovial of the 25% it holds in the UK's main hub.
Under the agreement, the French Ardian will acquire 15% of FGP Topco, the parent company of the British airport, and the Saudi public fund (FIP) 10%, for a total amount of 2.7 billion euros, according to a statement released on Tuesday night by the Spanish construction giant. The sale allows the Saudi FIP fund to take another step in European strategic infrastructure.
The FIP said on Wednesday it was "delighted to invest in Heathrow, a world-class airport, which is a major gateway to the world," according to a statement.
The Qatar Investment Authority (QIA) already owns 20% of the London airport.
It will thus become, after the transaction, the largest shareholder in the group.
Other shareholders include the Caisse de dépôt et placement du Québec (CDPQ) (12.62%) and the Chinese sovereign wealth fund China Investment Corporation (CIC) (10%).
Last month, the airport announced that it would welcome more passengers than expected this year and predicted that its traffic in 2024 would return to the level of 2019, before the Covid-19 pandemic.
In addition to the pandemic, Heathrow suffered last year from strikes and a shortage of employees, which led to scenes of chaos and monumental delays at the airport in the midst of the high season.
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