Saudi Arabia may take control of Heathrow, Britain’s largest airport, as other investors consider selling their shares. writes about this Guard.
The oil-rich state’s Public Investment Fund (PIF) teamed up with private investor Ardian to announce the acquisition of a 25% stake in the airport. The shares are being purchased from Spanish infrastructure giant Ferrovial, which has been Heathrow’s majority owner for 17 years.
According to this on SundaysAt least one shareholder is approaching selling its stock, and other investment funds may follow suit.
Under the terms of the airport’s shareholders’ agreement, other investors, including international pension funds with a total stake of almost 35%, also have the right to sell their assets.
One of these unnamed investors commented to the Sunday Times about the price offered by Saudi Arabia: “We will sell at this price.”
Representatives of Saudi PIF and Ardian and the airport management declined to comment to the press. Saudi PIF and Ardian will reportedly keep their stakes separate, but the Saudis are also partners in Ardian’s infrastructure funds.
A Qatari investment fund owns a 20% stake in the airport and is expected to be reluctant to sell its shares to the Saudis. Five other shareholders also hold between 10 percent and 12.6 percent; These include sovereign wealth funds in China and Singapore, which are also not seen as sellers.
The other three investors are pension funds from Canada, Australia and the United Kingdom: Caisse de dépôt etplace du Quebec, Australian Superannuation Foundation, China Investment Corporation and UK Universities Pension Scheme.
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Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.