Saudi Arabia's sovereign wealth fund PIF has announced that it has completed the acquisition of a 15% stake in FGP TopCo, the holding company of London's Heathrow Airport Holdings, from Spanish infrastructure major Ferrovial SE and certain other FGP TopCo shareholders.

 

This comes in line with PIF’s strategy to support important sectors and businesses as long-term partners as part of its global portfolio of assets, said PIF in a statement.

 

Concurrently, Ardian, the private investment house, has acquired approximately 22.6% of FGP TopCo from the same shareholders through a separate vehicle.

 

On the strategic move, Turqi Al Nowaiser, the PIF Deputy Governor and Head of International Investments, said: "PIF is pleased to be investing in Heathrow Airport, a vital UK asset and a world-class airport.

 

"We believe in the importance of infrastructure as a key sector in supporting the transition to net zero. Heathrow acts as a crucial gateway to the world, and we look forward to supporting Heathrow’s management in its efforts to secure the sustainable growth of the airport and to continue to maintain its position as a global aviation hub," he added.-TradeArabia News Service