New Civil Engineer - Tim Clark
Spanish construction giant Ferrovial has announced plans to sell its stake in Heathrow Airport for £2.37bn, having been majority shareholder since 2006.
The firm, which owns around 25% of FGP Topco, the parent company of Heathrow Airport Holdings Ltd, has reached a deal with Ardian and Saudi Arabia's Public Investment Fund to sell the stake.
Adrian will acquire a 15% stake in Heathrow, and The Public Investment Fund 10% via new investment vehicles.
Full completion of the acquisition under the agreement is also subject to the satisfaction of applicable regulatory conditions.