PIF, Ardian mull acquisition of 25% stake in London's Heathrow: Report

Logo of Public Investment Fund (PIF)

Saudi Arabia's Public Investment Fund (PIF) and private equity firm Ardian are in talks to buy Spain's Ferrovial 25% stake in London’s Heathrow Airport, Reuters reported. 

Ferrovial is exploring options for its 25% stake in Heathrow and has held preliminary talks with external advisers on the future of its holding in the airport. 

No final decision has been yet taken by Ferrovial and the discussions may not result in a sale. 

According to Reuters, JPMorgan analysts calculated in May that Heathrow is worth about €24.3 billion ($25 million) including debt. By these estimates, Ferrovial's Heathrow holding has an equity value of €611 million. 

Qatar Investment Authority (QIA), which owns 20% of Heathrow, is the second largest investor in the UK-based airport. Caisse de dépôt et placement du Québec (CDPQ), Singapore’s wealth fund GIC and China Investment Corporation also have sizeable holdings.