Ferrovial Successfully Finalizes 19.75% Stake Sale in Heathrow Airport
Overview of the Transaction
On December 12, 2024, Ferrovial announced the successful completion of the sale of a 19.75% stake in Heathrow Airport. This sale, which comes as part of a larger transaction involving various shareholders, has been valued at around 2,000 million euros. The deal reflects Ferrovial's strategic decisions and financial planning, positioning the company substantially within the global infrastructure market.
Details of the Sale
The announcement referenced an earlier communication from June 14, 2024, detailing the intention to sell part of its stake in FGP Topco Ltd, the parent company of Heathrow Airport Holdings Ltd. In collaboration with other shareholders, Ferrovial has sold a total of 37.62% of FGP Topco’s share capital. Ferrovial alone sold 19.75%, while other shareholders contributed to the remaining stake. This strategic move has implications for ownership stakes, as the remaining shares now demonstrate a diversified ownership structure.
Ardian and PIF emerged as key players in this transaction, acquiring approximately 22.6% and 15.0% of FGP Topco's shares, respectively. Post-sale, Ferrovial retains a 5.25% stake, which will be optimized as a financial investment, acknowledging fluctuations in value through profit and loss.
Financial Implications
From a financial perspective, the sale is significant, as Ferrovial is expected to register an estimated profit of 2,500 million euros at the end of the fiscal year. This figure includes 2,000 million euros from the sale of shares and an additional 500 million euros attributed to the retained 5.25% stake. Recognizing this value is essential for prepares for future investments and operations.
About Ferrovial
Ferrovial, established as one of the world's leading infrastructure companies, operates across more than 15 countries employing over 24,000 professionals. The company's robust portfolio reflects its commitment to sustainability and compliance with the principles of the UN Global Compact. It holds listings on Euronext Amsterdam, the Spanish Stock Exchanges, and Nasdaq, further establishing its credibility in the global market.
As a constituent of Spain’s IBEX 35 index and a member of the Dow Jones Sustainability Index and FTSE4Good, Ferrovial’s position signifies its long-standing dedication to corporate responsibility.
Future Outlook
The completion of the sale marks a transformative period for Ferrovial, opening avenues for strategic investments and potential growth opportunities. The firm is likely to leverage its remaining stake in Heathrow for future ventures while maintaining an eye on emerging markets and infrastructure projects.
With this transaction, Ferrovial not only refines its investment portfolio but also strengthens its role as a pivotal player in the international infrastructure landscape.