Ardian Expands Stake in Heathrow with Ferrovial Deal
Deal News | Feb 26, 2025 | Ardian
Ardian, a leading private investment firm, has announced a binding agreement to acquire an additional 10% stake in FGP Topco Ltd, the holding company for Heathrow Airport Holdings Ltd, from Ferrovial SE and other shareholders, including CDPQ. This acquisition will elevate Ardian's total stake to 32.6%, consolidating its position as the largest shareholder in Heathrow. Previously, Ardian had acquired a 22.6% stake on December 12, 2024. This move comes as Heathrow embarks on the largest investment program in its history, planned to upgrade and expand the airport significantly. The transaction is pending the right of first offer (ROFO) and regulatory approvals. Ardian's involvement in Heathrow aligns with its broader strategy of investing in essential infrastructure and promoting sustainable growth, accentuating its commitment to responsible investment and net-zero transition.
Sectors
- Private Equity and Investment Management
- Transportation and Infrastructure
Geography
- United Kingdom – The focus on Heathrow Airport, a major UK infrastructure project, defines the geographical relevance.
- France – Ardian, headquartered in France, plays a central role in the transaction, reflecting its international investment activities.
Industry
- Private Equity and Investment Management – Ardian's role as a private investment firm acquiring stakes in infrastructure projects like Heathrow highlights this classification.
- Transportation and Infrastructure – Heathrow Airport's expansion plans and infrastructure improvements underscore the significance of this sector.
Financials
- 22.6% – Initial stake acquired by Ardian on December 12, 2024.
- 10% – Additional stake Ardian intends to acquire in the latest transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ardian | Acquirer/PE Firm | Company | Ardian is a globally recognized private investment house, leading the acquisition of a stake in Heathrow. |
| Heathrow Airport Holdings Ltd | Target Company | Company | The primary entity whose shares are being acquired, part of a significant expansion and investment initiative. |
| Ferrovial SE | Selling Company | Company | One of the major shareholders selling its stake to Ardian in this transaction. |
| CDPQ | Selling Company | Company | Another major shareholder involved in selling a stake of Heathrow to Ardian. |
| FGP Topco Ltd | Holding Company | Company | The entity managing shares of Heathrow, and the entity whose shares are being transacted. |