China’s sovereign wealth fund has bought a 10% share of Heathrow Airport. Ferrovial, which owns 49.99% of Heathrow Ltd – the new name for BAA – will sell 5.72% of Heathrow holding company, FGP Topco, to Stable Investment Corporation.
As part of the same transaction, other shareholders of FGP Topco have sold a 4.28% stake. The deal with Stable is unconditional and was closed yesterday.
Ferrovial is also awaiting approval of the sale of another 10.62% of FGP Topco to Qatar Holding.
Once this deal gets the go-ahead from the European Commission, Ferrovial’s indirect stake in Heathrow will just over one third. It will remain the airport’s biggest shareholder.
The deals means Heathrow will be more than 40% controlled by the Chinese, Qatari and Singaporean governments.
Source: Airport World