Qatar Holding LLC, the investment arm of the Middle East country’s sovereign-wealth fund, agreed to pay 900 million pounds ($1.4 billion) for a 20 percent stake in BAA Ltd., which owns London’s Heathrow airport, Europe’s busiest hub.
Qatar Holding will acquire a 10.62 percent stake in FGP Topco Ltd., BAA’s parent company, from Ferrovial SA (FER) for 478 million pounds, the Spanish infrastructure company said in a statement today. Qatar Holding also agreed to buy a 5.63 percent stake from Britannia Airport Partners and 3.75 percent from GIC Special Investments Pte Ltd., according to the statement.
“The sale of this stake in BAA is part of Ferrovial’s strategy of establishing a market valuation of our assets and improving the structure of our investment portfolio,” Ferrovial Chief Executive Officer Inigo Meiras said in the statement.
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