- Russian prosecutor demands 3 years prison for French researcher
- 'Innocent' British nerve agent victim caught in global murder plot: inquiry
- Afghan Taliban vow to implement media ban on images of living things
- Russian prosecutor demands 3 years, 3 months jail for French researcher
- England ready for Pakistan's spin assault in second Test
- New Zealand's Ravindra excited for India Tests with father in crowd
- India's capital bans fireworks to curb air pollution
- Stocks diverge, oil retreats as China disappoints markets
- FIFA to open 'global dialogue' on transfer system after Diarra ruling
- Trio wins economics Nobel for work on wealth inequality
- Starmer vows to cut red tape as he urges foreign investors to 'back' UK
- Ex-Stasi officer jailed over 1974 Berlin border killing
- 'Not viable': Barcelona turns against surging tourism
- Hezbollah says targeted Israeli naval base after deadly drone strike
- Rice praises 'unbelievable' England interim boss Carsley despite uncertainty
- Nepali teenager hailed as hero after climbing world's 8,000m peaks
- England captain Stokes back from injury for second Pakistan Test
- Shanghai stocks gain after stimulus briefing as markets rally
- Shanghai stocks gain after stimulus briefing as Asian markets rally
- South Korea military says 'fully ready' as drone flights anger North
- Pakistan 'vigilantes' behind rise in online blasphemy cases
- Nearly 90, but opera legend Kabaivanska is still calling tune
- Smith experiment as Test opener over, Green out of India series
- With inflation down, ECB eyes faster tempo of rate cuts
- Is life possible on a Jupiter moon? NASA goes to investigate
- Dodgers crush Mets 9-0 in MLB playoff series opener
- South Korea military says 'fully ready' as drone tensions soar
- Cummins back, Marsh and Head out of Pakistan ODI series
- Shanghai stocks swing after stimulus briefing as most of Asia rises
- New Zealand's Latham promises 'no fear' as he takes charge for India Tests
- Kyrgios vows to 'shut up' doubters with December comeback
- Public hearings start into death of Brit by Russian nerve agent
- Ex-Stasi officer faces verdict over 1974 Berlin border killing
- Role of government, poverty research tipped for economics Nobel
- 'Stolen satire' feeds US election misinformation
- Rookie McCarty captures first PGA Tour title in Black Desert Championship
- Australia all-rounder Green ruled out of India Test series
- Seeing double in Nigeria's 'twins capital of the world'
- UK FM to attend EU foreign affairs talks for first time in 2 years
- Carter, Billups among 13 new Basketball Hall of Fame inductees
- Ravens rip Commanders as Lions lose NFL sacks leader in win
- Hezbollah drone strike kills four, wounds dozens at Israeli base
- China says launches military drills around Taiwan
- Stewart leads Liberty past Lynx to level WNBA Finals
- England return to winning ways in Nations League, Austria thrash Norway
- UN chief says attacks on UNIFIL 'may constitute a war crime'
- Ravens outlast Commanders while Bucs batter Saints in NFL
- Dozens hurt in Israel as Hezbollah claims drone strike
- England deserve 'world class' coach: Carsley
- Burkina Faso win to become first qualifiers for 2025 AFCON
Spanish giant Ferrovial sells remaining stake in Heathrow
Spanish infrastructure giant Ferrovial announced it is offloading its remaining 25 percent stake in London's Heathrow Airport to a French private equity group and Saudi Arabia's sovereign wealth fund.
After owning the UK travel hub for 17 years, Ferrovial said Tuesday it had reached a 2.37 billion pound ($3.01 billion) deal with Paris-based Ardian and Riyahd's Public Investment Fund (PIF).
Under the terms of the agreement, Ardian will buy 15 percent of FGP Topco, the holding company that controls the UK's busiest airport, and the Saudi public fund will take 10 percent, according to a statement released by the Spanish construction giant.
"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," said Luke Bugeja, head of Ferrovial's airports business.
"We are very pleased to have made Heathrow one of the world’s most connected airports and the busiest airport in Europe."
The specialist in transport infrastructure management operates a vast portfolio of global assets, including airports interests in Turkey and New York.
It bought its stake in Heathrow Airport in a 2006 takeover and initially held 56 percent of the hub. But it has gradually reduced its stake in recent years.
In 2012, the group sold 10.62 percent to Qatar Holding for 478 million pounds, followed by a 5.72 percent stake to China's CIC International for the equivalent of 319 million euros ($415 million).
Last month, Heathrow said it recorded its highest-ever September passenger numbers of more than seven million, which also marked the first time it exceeded pre-pandemic traffic figures.
Ferrovial said it remains "fully committed to advancing its airport business" and maintains a 50 percent stake in three other UK hubs -- Aberdeen, Glasgow and Southampton -- as well as 60 percent stake in Turkey's Dalaman Airport and a 49 percent stake in the new Terminal 1 at JFK Airport in New York.
This summer, the firm angered Spain's government by relocating its headquarters to the Netherlands in a decision it said would give it access to cheaper credit and make it more attractive to investors ahead of a planned US stock listing.
Ch.Kahalev--AMWN