LONDON- Saudi Arabia may ultimately gain majority control of London Heathrow Airport (LHR), Europe’s busiest, as several shareholders consider the sale of their interests, the Times reported on Sunday.
FGP Topco Limited, a consortium underpinning Heathrow Airport Holdings Limited, is helmed by infrastructure expert Ferrovial S.A. (25.00%). Other major stakeholders in the consortium include Qatar Investment Authority (20.00%), Caisse de dépôt et placement du Québec (CDPQ) (12.62%), GIC (11.20%), Australian Retirement Trust (11.18%), China Investment Corporation (10.00%), and Universities Superannuation Scheme (USS) (10.00%).
Saudi Arabia to Control London Heathrow
At least one shareholder is close to selling its stake after the Saudi Public Investment Fund, together with the investment company Ardian, in which Saudi Arabia is an investor, agreed to buy the 25% stake held by Spain’s Ferrovial SE in late November.
The $3 billion deal was about 70% above Morgan Stanley’s estimated valuation.
Heathrow’s remaining shareholders are sovereign wealth funds from Qatar, China, and Singapore, which are unlikely to sell, as well as pension funds from Quebec, Australia, and the UK’s Universities Superannuation Scheme, which may sell, according to the Times.
Most Internationally Connected Airport
London Heathrow Airport (LHR) has once again secured its top-ranking status as the world’s most internationally connected airport. British Airways (BA) maintains its dominant presence with a 50% share of the flights.
John Grant, Chief Analyst at OAG, commented on the OAG Megahubs findings, emphasizing the enduring importance of international connectivity.
He noted the resurgence of London Heathrow and the remarkable growth of Asian hubs like Kuala Lumpur, highlighting airports’ global adaptability and resilience.
The major European airport hubs, including Amsterdam (AMS), Frankfurt (FRA), and Paris (CDG), join London Heathrow (LHR) in the Top 10 Global Megahubs. Istanbul (IST) also makes a remarkable entry into the Top 10, securing the 7th position.
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