Ardian, a private equity investment firm, and Public Investment Fund, a sovereign wealth fund by the government of Saudi Arabia, agreed to acquire a 25% stake in Heathrow Airport from Ferrovial, a provider of transport infrastructure and urban services, for £2.4bn. Ardian agreed to acquire a 15% and Public Investment Fund a 10% stake. “Over the last 17 years, we have been contributing to Heathrow’s transformation, together with our fellow shareholders, achieving some excellent milestones throughout our long-term role as investor. These include overseeing an investment of £12bn, expanding its capacity with the construction of Terminal 2, and improving its operational performance. We are very pleased to have made Heathrow one of the world’s most connected airports and the busiest airport in Europe,” Luke Bugeja, Ferrovial Airports CEO. On June 14; Ardian and Public Investment Fund revised their bid to acquire a 37.6% stake in Heathrow Airport from Ferrovial for £3.26bn. Under the terms of the revised agreement, Ardian will acquire c. 22.6% while Saudi Arabia’s Public Investment Fund will acquire c. 15%.