Heathrow owner Ferrovial studies options for stake in Britain’s biggest airport -sources

Heathrow owner Ferrovial studies options for stake in Britain’s biggest airport -sources

LONDON - Spain's Ferrovial is looking at options for its 25% stake in London's Heathrow, two sources told Reuters, and has held preliminary talks with external advisers on the future of its holding in Britain's biggest airport.

The early stage discussions come amid interest in Ferrovial's stake from private equity firm Ardian, which has held talks with its own advisers on a possible joint proposal with Saudi Arabia's Public Investment Fund (PIF), these sources and another person familiar with the matter said.

Ferrovial has yet to take a final decision and the discussions may not result in a sale, all the sources said.

Shares in the Madrid-listed firm rose as much as 3.3% by 1418 GMT after the Reuters report.

The stock was up around 0.3% before Reuters reported on the ongoing discussions over Heathrow airport.

Ferrovial and Ardian both declined to comment on the Heathrow discussions.

PIF did not immediately respond to a request for comment.

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

Heathrow, which Aviation data firm OAG said was the world's fifth busiest airport in July, was hard hit by coronavirus lockdowns,