Ferrovial signs his Heathrow exit plan with the sale of almost all of its participation. The company, together with part of its partners, has transferred 37.62% of the capital of the London airport to French Ardian background and to Saudi sovereign PIF. The company chaired by Rafael del Pino thus gets rid of its 19.75% for 2,000 million euros and will retain just over 5%, as explained to the National Securities Market Commission (CNMV).
After compliance with the applicable regulatory conditions, Ferrovial and the accompanying shareholders have completed the sale of 37.62% of the share capital of FGP Topcoparent company of the aerodrome, in which Ferrovial has sold 19.75% and the rest another 17.87% jointly. The entire transferred package has been valued at 3,259 million pounds (approximately 4,000 million euros).
Ferrovial now owns shares representing 5.25% and the Accompanying Shareholders jointly hold shares representing 4.75% of the share capital of FGP Topco. The buyers, for their part, divide their participation as follows: Ardian and PIF, through separate vehicles, will have shares representing 22.6% and 15% of the share capital of FGP Topco, respectively.
The company will recognize an estimated profit of 2,500 million euros at the end of fiscal year 2024. Of this entire amount, 2,000 million euros will correspond to the shares sold, while the remaining 500 million euros will correspond to the 5.25% stake retained.. This percentage from now on will be recorded as a financial investment valued at fair value.
original plan
The conditions are the same as those announced in June but different from those agreed in November of last year. Ferrovial then announced that it had reached an agreement to divest its entire stake.a situation that came to a standstill when other shareholders requested their right to tag along and altered the initial sales scheme.
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