Ferrovial Sheds Heathrow Airport Stock For $636M

Law360, New York (October 22, 2013, 5:26 PM EDT) -- Spanish infrastructure operator Ferrovial SA has agreed to sell 8.65 percent of Heathrow Airport Holdings Ltd.'s parent company to Universities Superannuation Scheme Ltd. for 392 million pounds ($636 million), the seller announced Tuesday.

The deal brings Ferrovial's stock in Heathrow down from 33 percent to 25 percent, leaving it as the airport's biggest shareholder. The company, which sold off pieces of Heathrow in 2012 and 2011, said that the divestments were part of its diversification.

"This sale of a stake in [Heathrow] is a further part...
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