Holders of 35% of Heathrow plan to divest along with Ferrovial

Shareholders in Heathrow accounting for a 35% stake intend to sell their shares alongside Ferrovial, opens new tab, the Spanish firm said on Tuesday, effectively putting on the bloc 60% of shares in one of the world's busiest airports. Two months ago, Ferrovial agreed to sell its 25% stake in Heathrow for $3b to Saudi Arabia's Public Investment Fund (PIF) and Ardian in a deal that allows other shareholders to "tag-along" and divest their shares at the same price as Ferrovial. The conditions mean that Ardian and PIF, which originally agreed to buy 15% and 10% stakes, respectively, now need to increase their planned investments in the airport or find a partner to complete the acquisition. PIF is not interested in increasing its stake, while Ardian would be open to increasing its stake by no more than 10%, a person with knowledge of the situation said. Ferrovial said there was no certainty that the transaction will be completed.<br/>