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Saudi PIF joins France’s Ardian to bid for Heathrow stake

By Pramod Kumar
Creative Commons
Ferrovial’s Heathrow holding is worth about 1.6 billion euros, commanding an overall valuation of 26 billion euros

French private equity firm Ardian is looking at a possible joint proposal with Saudi Arabia’s Public Investment Fund (PIF) to buy Spainish firm Ferrovial’s 25 percent stake in London’s Heathrow, Reuters reported, citing informed sources.

The sources said that Ardian has talked with its own advisers on a possible joint proposal with the Saudi sovereign wealth fund.

Ferrovial is studying options to sell its stake in Heathrow and has held preliminary talks with external advisers on the future of its holding in Britain’s biggest airport.

The Spanish company is yet to take a final decision and the discussions may not result in a sale, the news agency reported.

According to Citi analysts, Ferrovial’s Heathrow holding is worth about 1.6 billion euros ($1.63 billion), commanding an overall valuation of 26 billion euros, including debt, for the British airport.

In July, the PIF announced it would be part of a £653 million takeover of Aston Martin Lagonda and invest £78 million in a wider bid to acquire 17 percent of the company.

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