Home Transport Aviation Saudi Arabia’s PIF, Ardian close acquisition of 15% stake in Heathrow Airport Ardian and PIF will acquire 22.6 per cent and 15 per cent, respectively, of FGP Topco for a total of $4.12bn (GBP3.26bn) by Kudakwashe Muzoriwa December 15, 2024 Image credit: Chris J. Ratcliffe/ Getty Images Saudia Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), and French private equity firm Ardian said on Friday that they have formally closed the acquisition of a 37.6 per cent stake in London Heathrow Airport from Ferrovial and certain other FGP TopCo shareholders. Under the new agreement, Ardian and PIF will acquire 22.6 per cent and 15 per cent, respectively, of FGP Topco for a total of $4.12bn (GBP3.26bn). “PIF is pleased to be investing in Heathrow Airport, a vital UK asset and a world-class airport. We believe in the importance of infrastructure as a key sector in supporting the transition to net zero,” said Turqi Al-Nowaiser, deputy governor and head of International Investments. “Heathrow acts as a crucial gateway to the world, and we look forward to supporting Heathrow’s management in its efforts to secure the sustainable growth of the airport and to continue to maintain its position as a global aviation hub.” With $925bn in assets under management, the PIF has emerged as a significant global investment powerhouse, driven by the vision of Prime Minister and Crown Prince Mohammed bin Salman, who is spearheading the kingdom’s ambitious Vision 2030 economic diversification agenda. PIF stated that its investment in Heathrow Airport aligns with the fund’s strategy of supporting key sectors and businesses as long-term partners, thereby expanding its global portfolio of assets. With a portfolio of investments ranging from date farms to multinational conglomerates, PIF’s sources of funding include retained earnings from investments, capital injections from the government, government assets transferred to the fund, and loans and debt instruments. Abu Dhabi’s Mubadala Investment Company is reportedly also considering an investment in Heathrow, which could potentially lead to it joining the PIF and the Qatar Investment Authority as prominent shareholders in the London hub. Read: Saudi Arabia’s PIF acquires 40% stake in Selfridges Stores Tags Ardian Aviation Heathrow Public Investment Fund You might also like 5.2 million passengers to travel through DXB between Dec 13-31 Global airlines forecast $1tn 2025 revenue despite plane shortage Saudi Arabia’s PIF launches new hotel management company Airbus expands global footprint with Saudi Arabia HQ