According to the Reuters agency, the company is studying options for its main assets in the United Kingdom
Ferrovial is examining various options to sell its remaining 25% stake in British Heathrow Airport. As published by the Reuters agency, the Spanish company has held preliminary talks with outside advisors about the future of its key assets in the UK.
Consulted in this way, the company prefers not to comment. The titles on the Spanish stock exchange have started to stand out with increases of more than 3% after reading the information.
As explained by Reuters, the new analysis of its position is said to have accelerated after venture capital firm Ardian expressed interest in launching a bid from Saudi Arabia’s Public Investment Fund (PIF), Saudi Arabia’s sovereign fund.
According to a May report by JP Morgan, Heathrow airport would be valued at around €24.3 billion, while Ferrovial’s stake would have a market value of around €611 million.
Like the rest of the industry, the UK airport was hit hard by the slump in tourists during the pandemic, but forecasts for 2022 pointed to a solid recovery in traffic, with 54.4 million passengers in June.
Last month, some airlines operating in the UK facilities decided to stop selling tickets for the summer holidays and limit the number of passengers, due to saturation due to the lack of staff.
Ferrovial is the main shareholder of Heathrow, where it was introduced 16 years ago. It is followed by the Qatar Investment Authority (QIA) fund, with a 20% stake. The institutional fund CDPQ (Caisse de dépôt et placement du Québec), the Singapore GIC sovereign wealth fund and the China Investment Corporation are also present as shareholders.
Source: La Verdad
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