UK mortgage approvals outstrip forecasts in October


Saudi Arabia’s sovereign wealth fund has taken a stake in London’s Heathrow airport as the Spanish infrastructure group Ferrovial offloads shares in the UK’s main travel hub that it has owned for 17 years.

The stake has been purchased by Ardian, a European private equity group, and the Public Investment Fund, Ferrovial said late on Tuesday.

Ferrovial, which was founded in Spain but moved its headquarters to the Netherlands this year, said it remained committed to its other airport businesses. It also owns highway assets and is growing rapidly in the US.

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