Ferrovial closes the sale of a 19.75% stake in Heathrow for 2,000 million euros
Ferrovial has completed the sale of a 19.75% stake in FGP Topco , the parent company of Heathrow Airport Holdings , for approximately 2,000 million euros. The transaction was part of a larger 37.62% stake sale, where Tagging Shareholders sold an additional 17.87%. The total deal value reached GBP 3,259 million (approximately 4,000 million euros).
Following the transaction, Ferrovial retains a 5.25% stake, while Ardian and PIF now hold approximately 22.6% and 15.0% respectively. The company expects to recognize an estimated profit of 2,500 million euros at 2024 year-end, with 2,000 million euros from the sold shares and 500 million euros from the revaluation of the retained stake.
Ferrovial ha completato la vendita di una partecipazione del 19,75% in FGP Topco, la società madre di Heathrow Airport Holdings, per circa 2.000 milioni di euro. L'operazione faceva parte di una vendita più ampia del 37,62% delle azioni, in cui i soci venditori hanno ceduto un ulteriore 17,87%. Il valore totale dell'accordo ha raggiunto GBP 3.259 milioni (circa 4.000 milioni di euro).
In seguito all'operazione, Ferrovial mantiene una partecipazione del 5,25%, mentre Ardian e PIF detengono rispettivamente circa il 22,6% e il 15,0%. L'azienda prevede di riconoscere un profitto stimato di 2.500 milioni di euro entro la fine del 2024, con 2.000 milioni di euro provenienti dalle azioni vendute e 500 milioni di euro dalla rivalutazione della partecipazione mantenuta.
Ferrovial ha completado la venta de una participación del 19,75% en FGP Topco, la empresa matriz de Heathrow Airport Holdings, por aproximadamente 2.000 millones de euros. La transacción formaba parte de una venta mayor del 37,62% de las acciones, donde los accionistas vendedores vendieron un adicional del 17,87%. El valor total del trato alcanzó GBP 3.259 millones (aproximadamente 4.000 millones de euros).
Tras la transacción, Ferrovial mantiene una participación del 5,25%, mientras que Ardian y PIF ahora poseen aproximadamente el 22,6% y el 15,0% respectivamente. La empresa espera reconocer una ganancia estimada de 2.500 millones de euros al final de 2024, con 2.000 millones de euros provenientes de las acciones vendidas y 500 millones de euros de la revalorización de la participación retenida.
Ferrovial는 Heathrow Airport Holdings의 모회사인 FGP Topco의 19.75% 지분을 약 20억 유로에 매각하는 거래를 완료했습니다. 이 거래는 37.62%의 지분 매각의 일환으로, 태깅 주주들이 추가로 17.87%를 매각했습니다. 전체 거래 가치는 GBP 32억 5천9백만 (약 40억 유로)에 달합니다.
거래 이후, Ferrovial은 5.25%의 지분을 보유하고 있으며, Ardian과 PIF는 각각 약 22.6%와 15.0%를 보유하게 되었습니다. 회사는 2024년 연말 기준으로 약 25억 유로의 추정 이익을 인식할 것으로 예상하고 있으며, 이는 매각된 주식에서 20억 유로, 보유 지분의 재평가에서 5억 유로를 포함합니다.
Ferrovial a complété la vente d'une participation de 19,75% dans FGP Topco, la société mère de Heathrow Airport Holdings, pour environ 2.000 millions d'euros. La transaction faisait partie d'une vente plus importante de 37,62%, où les actionnaires taggants ont vendu un complément de 17,87%. La valeur totale de l'accord a atteint GBP 3.259 millions (environ 4.000 millions d'euros).
Suite à la transaction, Ferrovial conserve une participation de 5,25%, tandis qu'Ardian et PIF détiennent désormais respectivement environ 22,6% et 15,0%. L'entreprise s'attend à reconnaître un bénéfice estimé de 2.500 millions d'euros d'ici la fin de 2024, avec 2.000 millions d'euros provenant des actions vendues et 500 millions d'euros provenant de la réévaluation de la participation conservée.
Ferrovial hat den Verkauf eines 19,75% Anteils an der FGP Topco, der Muttergesellschaft von Heathrow Airport Holdings, für etwa 2.000 Millionen Euro abgeschlossen. Die Transaktion war Teil eines größeren Verkaufs von 37,62%, bei dem die Tagging-Aktionäre zusätzlich 17,87% verkauft haben. Der Gesamtwert des Deals belief sich auf GBP 3.259 Millionen (ca. 4.000 Millionen Euro).
Nach der Transaktion hält Ferrovial einen Anteil von 5,25%, während Ardian und PIF nun jeweils etwa 22,6% und 15,0% besitzen. Das Unternehmen erwartet, zum Ende des Jahres 2024 einen geschätzten Gewinn von 2.500 Millionen Euro zu verbuchen, wobei 2.000 Millionen Euro aus den verkauften Aktien und 500 Millionen Euro aus der Neubewertung des beibehaltenen Anteils stammen.
- Sale of 19.75% stake generates approximately 2,000 million euros in proceeds
- Expected recognition of 2,500 million euros total profit in 2024
- Additional 500 million euros profit from revaluation of retained 5.25% stake
- Significant reduction in ownership stake from 25% to 5.25% reduces influence in Heathrow operations
Insights
This major divestment significantly strengthens Ferrovial's financial position, generating an impressive
The deal structure, involving Ardian and PIF as buyers, brings strategic investors with deep pockets and long-term investment horizons. This transaction provides Ferrovial with substantial cash reserves for potential reinvestment in its core infrastructure business or shareholder returns. The accounting treatment change for the retained stake to mark-to-market valuation adds earnings volatility but provides greater transparency on Heathrow's market value.
The successful completion of this transaction marks a strategic pivot for Ferrovial, reducing exposure to airport operations while crystallizing significant value from its long-term Heathrow investment. The entry of Ardian and PIF, acquiring
The substantial profit recognition of
Following satisfaction of applicable regulatory conditions, Ferrovial and the Tagging Shareholders have completed the sale of
As a result, Ferrovial now holds shares representing
As a consequence of the transaction, Ferrovial will recognize at 2024 year-end an estimated profit of
About Ferrovial
Ferrovial is one of the world's leading infrastructure companies. The Company operates in more than 15 countries and has a workforce of over 24,000 worldwide. Ferrovial is triple listed on Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a member of
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SOURCE Ferrovial
FAQ
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