The $482bn sovereign fund bought a 5.72 per cent stake in Heathrow holding company FGP Topco for £257.4m through Stable Investment Corporation, a subsidiary of CIC.
Ferrovial announced two years ago it was planning to sell 10 per cent of its stake in FGP Topco, with plans to invest the proceeds in other infrastructure and services projects and to pay down debt.
The firm’s stake will drop 33.65 per cent following this deal and the agreed sale of a stake to Qatar Holdings, which is subject to European competition approval and expected to close before the end of the year.
Stable will join the boards of FGP Topco and Heathrow Airport Holdings following the deal.
Britannia Airport Partners, GIC and Alinda will continue as shareholders of FGP Topco.
Ferrovial CEO Íñigo Meirás said, “This sale of a stake in Heathrow Airport Holdings is a further part of Ferrovial’s investment diversification strategy.
“Following this deal, we reiterate our role in Heathrow Airport Holdings as the industrial partner.
“As previously stated, we will continue to work with the new shareholders and with existing shareholders to ensure that Heathrow Airport Holdings retains its position as one of the best infrastructure assets in the world.”
Earlier this week US buyout house TPG Capital emerged as the sole private equity bidder for Stansted, London’s third-largest airport.
The £1.3bn asset was put up for sale by owner BAA earlier this year after it lost a three-year battle with the Competition Commission, which ordered it to sell three of its airports.
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