Spain's Ferrovial exploring options for 25% stake in Heathrow - report
Spain's Ferrovial is reportedly exploring options for its 25% stake in London's Heathrow and has held preliminary talks with external advisers on the future of its holding in the airport.
Reuters cited sources as saying that the early stage discussions come amid interest 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).
It was understood that Ferrovial has yet to make a final decision and the discussions may not result in a sale.
Reuters said Ferrovial and Ardian both declined to comment on the Heathrow discussions, while PIF did not immediately respond to a request for comment.
According to Reuters, JPMorgan analysts calculated in May that Heathrow is worth about €24.3bn including debt. By these estimates, Ferrovial's Heathrow holding has an equity value of €611m.