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Ferrovial sale of 10.6% of Heathrow Airport Holding to Qatar Holdings approved

31-Dec-2012 12:31 PM

Ferrovial stated (21-Dec-2012) it has completed the sale of 10.62% of UK's Heathrow Airport Holdings Ltd, formerly BAA Ltd, to Qatar Holding for GBP478 million, after obtaining approval from the European Union's competition authorities. Ferrovial CEO Inigo Meiras sad: "This transaction fulfills two objectives for us: it allows us to maintain our position as the principal shareholder and industrial partner of Heathrow Airport Holdings, and it further strengthens our liquidity situation." As part of this same transaction, Qatar Holding also acquired stakes of 5.63% of FGP Topco from Britannia Airport Partners and 3.75% from GIC. Qatar now owns 20% of Heathrow Airport Holdings. Ferrovial's indirect stake in Heathrow Airport Holdings Ltd has now declined to 33.65%. Qatar Holding will join the boards of FGP Topco Ltd and Heathrow Airport Holdings Ltd after the regulator approval. Qatar Holding said it maintains its view that the United Kingdom remains an "attractive investment destination and there is long-term fundamental strength in the British economy". [more - original PR]