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Ferrovial sells 8.65% of Heathrow Airport Holdings to the UK pension scheme USS for GBP392m

23-Oct-2013 1:16 PM

Ferrovial, currently the indirect owner of 33.65% of Heathrow Airport Holdings Ltd (HAH), reached (22-Oct-2013) an agreement to sell 8.65% of FGP Topco Ltd, the holding company which owns HAH, to UK's Universities Superannuation Scheme Limited (USS) for GBP392 million, equivalent to EUR463 million. The transaction is expected to complete on 24-Oct-2013 upon the receipt of funds. Ferrovial’s indirect stake in HAH will be 25% as a result of this transaction. Ferrovial CEO Íñigo Meirás said, "This sale of a stake in HAH is a further part of Ferrovial’s investment diversification strategy. Following this deal, we reiterate our role in HAH as the main shareholder and industrial partner in the long term". The transaction brings further enhancement to Ferrovial’s flexibility to undertake infrastructure and services projects as part of its international expansion strategy. Mr Meirás added, “We are pleased with the addition of a British pension fund to the group of international investors who are already part of Heathrow. Having long-term investors of the quality of the USS will only strengthen Heathrow. HAH now has investors based in Europe, North America, the Middle East and Asia, including sovereign wealth funds from Qatar, China and Singapore". [more - original PR]