Qatar Holding LLC, the global investment house has agreed to pay $1.4 billion or 900 million pounds for a 20% stake in BAA Ltd. that owns Heathrow airport in London.
Heathrow airport is the busiest hub in Europe and Qatar Holding will get a 10.62 percent of stake in BAA’s parent company namad FGP Topco Ltd. This stake will be transferred into the hands of Qatar from Ferrovial SA for 478 million pounds. This is what the Spanish infrastructure company has said. Despite this, Qatar Holding has also agreed to own a 5.63 percent of stake from Britannia Airport Partners.
Moreover, GIC Special investments Pte Ltd. is also on queue of Qatar Holding where it acquires a total of 3.75 percent stake. The Chief Executive Officer of Ferrovial – Inigo Meiras has said in a statement that 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 shares increased 5.9 percent to 9.56 euros in Madrid (close trading) and the value of the company goes at 7 billion euros (8.62 billion dollars).