Sovereign wealth fund seeks Heathrow stake

Mubadala Investment, an Abu Dhabi sovereign wealth fund, is in talks to buy a stake in Heathrow Airport. Bloomberg has reported that Mubadala was approached by existing shareholder Ardian, the European private equity giant. Ardian and Saudi Arabia’s Public Investment Fund bought 25% of Heathrow from Spanish infrastructure company Ferrovial for £2.4bn last year, taking 15% and 10% stakes respectively. Shareholders accounting for another 35% have exercised options to join the sale – meaning their positions must also be sold for the deal to go through. No agreements have yet been struck. Bloomberg (£)  The Telegraph (£)