Saudi Arabia Eyes Majority Control Of London's Heathrow Airport


(MENAFN- Live Mint) "Saudi Arabia may ultimately gain majority control of London Heathrow Airport, Europe's busiest, as several shareholders consider the sale of their interests, the Times reported on Sunday.
At least one shareholder is close to selling its stake after 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'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 and Ardian, CDQP and USS declined to comment to the Times. GIC and CIC didn't respond to requests for comment, while QIA and the Australian Retirement Trust couldn't be reached.

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