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.

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