Infrastructure giant Ferrovial said on Friday it had reached a new agreement with French private equity fund Ardian and Saudi Arabia's Public Investment Fund (PIF) to sell the bulk of its 25% stake in Heathrow airport while keeping 5.25%. Under the new agreement that also involves other sellers, Ardian and PIF will acquire 22.6% and 15% respectively of FGP Topco, which is the parent company of Heathrow Airport Holdings Ltd, for a total of 3.26 billion pounds ($4.13 billion). Under an initial agreement announced last year, Ferrovial would have disposed of its entire stake for 2.37 billion pounds, valuing the whole airport at 9.48 billion pounds.
Ferrovial, a leading global infrastructure company, today announced the appointment of Frank Raha III as U.S. vice president of corporate affairs for Cintra, its highway business. Ferrovial's Cintra develops and operates express lanes across the U.S., providing road transportation infrastructure for communities as their populations grow. Raha oversees all government relations activities and engagements on behalf of the company, providing counsel and recommendations to U.S. corporate and concessi
Heathrow has been likened to a “Second World War” era airport by the boss of Emirates, who warned urgent investment was required to catch up with rivals.