Spain's Ferrovial to sell Heathrow stake for £2.4bn

Spanish infrastructure firm Ferrovial has agreed to sell its entire stake in FGP Topco, the parent company of Heathrow Airport, for £2.4bn.

Ferrovial will sell a 10% stake to the Saudi Public Investment Fund (PIF) and a 15% stake to French private equity firm Ardian.

Luke Bugeja, chief executive of Ferrovial Airports said: "Over the last 17 years, we have been contributing to Heathrow’s transformation, together with our fellow shareholders, achieving some excellent milestones throughout our long-term role as investor.

"These include overseeing an investment of £12 billion pounds, expanding its capacity with the construction of Terminal 2, and improving its operational performance. We are very pleased to have made Heathrow one of the world’s most connected airports and the busiest airport in Europe."