Whoever picks up Ferrovial’s Heathrow baggage will need a thick skin. The Spanish infrastructure operator is considering a sale of its 25% stake in the UK’s biggest airport, according to Reuters . Potential buyers include private equity group Ardian and Saudi Arabia’s Public Investment Fund. With relations with airlines and the regulator at a low ebb, and irate passengers and mountains of suitcases clogging up its arrivals halls, it’s easy to see why the 20 billion euro Madrid-listed firm wants out. That may be reflected in the price.
to Reuters. Potential buyers include private equity group Ardian and Saudi Arabia’s Public Investment Fund. With relations with airlines and the regulator at a low ebb, and irate passengers and mountains of suitcases clogging up its arrivals halls, it’s easy to see why the 20 billion euro Madrid-listed firm wants out. That may be reflected in the price.
At 13.4 times this year’s forecast EBITDA, the average trading multiple of listed airport operators Aena
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