China Fund Inks $724M Heathrow Deal As Airport Buys Pick Up

Law360, New York (November 1, 2012, 2:23 PM EDT) -- A unit of China’s sovereign wealth fund has paid €558.2 million ($724.2 million) for a 10 percent interest in London’s flagship Heathrow airport, China Investment Corp. said Thursday, marking the second cross-border deal this week for a slice of a U.K. airport.

The Chinese fund will lift more than 5 percent of the ownership stake in Heathrow’s holding company from Spanish infrastructure investor Ferrovial SA and the rest in smaller chunks from a smattering of other investors in Heathrow’s parent company. The buyer and sellers did...
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