Ferrovial confirmed (31-Oct-2012) the sale of 5.72% of Heathrow Airport Holdings Ltd, previously known as BAA Ltd, to Stable Investment Corporation, a wholly owned subsidiary of CIC International Co Ltd, for GBP257.4 million. Ferrovial continues to be the industrial partner in Heathrow Airport Holdings Ltd. As part of the same transaction and at the same price per share, Stable has acquired shares from other shareholders of FGP Topco Ltd for GBP192.6 million. Upon completion of this transaction, Stable will own 10% of Heathrow Airport Holdings Ltd. Ferrovial’s indirect stake in Heathrow Airport Holdings Ltd will reduce to 39.37% as a result of the transaction announced on 17-Aug-2012 to Qatar Holdings, which is subject to European competition approval and expected to close prior to the end of 2012. Ferrovial’s indirect stake will further reduce to 33.65% as a result of this transaction. The transaction with Stable is unconditional and closes on 31-Oct-2012. Following closing, Ferrovial owns 44.27% of Heathrow Airport Holdings Ltd. Stable will join the boards of FGP Topco Ltd. and Heathrow Airport Holdings Ltd. Britannia Airport Partners LP, GIC and Alinda continue as shareholders of FGP Topco Ltd. Ferrovia iscurrently the indirect owner of 49.99% of Heathrow Airport Holdings Ltd. [more - original PR - FGP Topco] [more - original PR - Stable Investment Corporation]
Ferrovial sells 5.72% of Heathrow Airport Holdings to CIC International subsidiary for GBP257m
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