Saudi Arabia is reportedly poised to gain majority control of London Heathrow Airport, which is Europe’s busiest airport. According to the Times, several shareholders are considering selling their interests, paving the way for the Saudi Public Investment Fund (PIF) and investment company Ardian, in which Saudi Arabia is an investor, to acquire a larger stake. In November, PIF and Ardian agreed to purchase the 25% stake held by Spain’s Ferrovial SE in a deal worth $3 billion, significantly surpassing Morgan Stanley’s valuation estimate by 70%.
While some shareholders, such as sovereign wealth funds from Qatar, China, and Singapore, are unlikely to sell, others, including pension funds from Quebec, Australia, and the UK’s Universities Superannuation Scheme, may consider selling their stakes. The Times reports that at least one shareholder is close to finalizing the sale of their stake.
The Times reached out to the involved parties for comment, but PIF, Ardian, CDQP, USS, GIC, and CIC either declined to comment or did not respond to the requests. Additionally, the Qatar Investment Authority (QIA) and the Australian Retirement Trust could not be reached for comment.