A subsidiary of China Investment Corporation, the country’s sovereign wealth fund, is buying a 10 percent stake in the UK’s Heathrow Airport, state news agency Xinhua reported on Thursday. The Xinhua report follows a statement from Spanish infrastructure company, Ferrovial, on Wednesday that it had sold a 5.72 percent stake in Heathrow holding company FGP Topco to China’s Stable Investment Corporation for 319.3 million euros ($414 million).
(Reuters) – A subsidiary of China Investment Corporation (CIC), the country’s sovereign wealth fund, is buying a 10 percent stake in the UK’s Heathrow Airport, state news agency Xinhua reported on Thursday.
The Xinhua report follows a statement from Spanish infrastructure company, Ferrovial (FER.MC), on Wednesday that it had sold a 5.72 percent stake in Heathrow holding company FGP Topco to China’s Stable Investment Corporation for 319.3 million euros ($414 million).
Other shareholders of FGP Topco sold 4.28 percent to Stable, making the Chinese fund an indirect holder of 10 percent of Heathrow Ltd, formerly known as BAA, the Spanish company said.
(Reporting by Nick Edwards; Editing by Jacqueline Wong)
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