Abu Dhabi’s UAE Fund Mubadala Considering Stake in London Heathrow Airport - Bloomberg
Abu Dhabi’s Mubadala Investment Co. is considering buying into Heathrow airport, according to people familiar with the matter, in a move that could see it join Saudi Arabia’s Public Investment Fund and Qatar Investment Authority as prominent shareholders in the London hub.
Sovereign wealth fund Mubadala is weighing an investment after it was approached by Paris-based buyout firm Ardian, the people said, asking not to be named as the information is private.
Deliberations are ongoing and no agreements have been reached, the people said. Mubadala is yet to make a final decision on the investment and could decide not to go ahead with the acquisition.
Spanish infrastructure company Ferrovial SE agreed in November to sell its 25% stake to Saudi’s PIF and Ardian for £2.37 billion ($2.98 billion). However, shareholders accounting for a further 35% of Heathrow’s capital joined the stake sale via so-called tag-along rights, meaning their positions must also be sold for the deal to go through.
Over the past few years, deep-pocketed Middle Eastern wealth funds have flocked to infrastructure assets around the world as part of their efforts to diversify their oil dependent economies.
If Mubadala buys into Heathrow, it would become the airport’s third Gulf state-backed shareholder alongside PIF and the Qatar Investment Authority which holds 20%. Ferrovial’s decision to sell part of its holding to the PIF had raised concerns over further Middle Eastern ownership of a key UK asset.
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