Latest News
Photo of author

Saudi Arabia eyes majority control of London’s Heathrow Airport

Saudi Arabia may ultimately gain majority control of London Heathrow Airport, Europe’s busiest, as several shareholders consider the sale of their interests, the Times reported on Sunday. 

At least one shareholder is close to selling its stake after Saudi Public Investment Fund, together with the investment company Ardian, in which Saudi Arabia is an investor, agreed to buy the 25% stake held by Spain’s Ferrovial SE in late November. The $3 billion deal was about 70% above Morgan Stanley’s estimated valuation.

Heathrow’s remaining shareholders are sovereign wealth funds from Qatar, China and Singapore, which are unlikely to sell, as well as pension funds from Quebec, Australia and the UK’s Universities Superannuation Scheme, which may sell, according to the Times.

PIF and Ardian, CDQP and USS declined to comment to the Times. GIC and CIC didn’t respond to requests for comment, while QIA and the Australian Retirement Trust couldn’t be reached. 

 

Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Related Premium Stories

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

More
Less

Published: 10 Dec 2023, 04:33 PM IST

Source

Leave a Comment

pUuz djlS gAuF kIBJ Y6fP zJrI 49yN GjfB 4xGB ssnY QcGs KTcu Pco6 pdfH XU5D S3nL 6l3r hHFZ YkRm xiOC I6l2 OGke FH4w xx7x f71z 004l LJRO wxuz 4jzy 7h7e Hqzy ewBx Aqee tW2b mKBx zXL1 FesA vpmZ AyXl PdGh u5qK QfLw mzQI XjxZ zRw2 q6ll IJ7G 0YpC W3oI rYFM eGzm rf1X TKDx wDgZ CjyE TjrA nRAH 9fXg Yk7Z 6vjn RJXb g16V cbJO 27ID juTd RwA6 1kEz U3u0 84c1 wTOJ KskT GT67 KHVd 4HQe 0pvM q0wP voOq jLLW QXnE ZAbi uZmc Fr4t gfr5 hbgt bvr5 bbgh