The deal marks the end of an investment by Ferrovial in Heathrow who have held an interest, as the main shareholder, in Heathrow since 2006. Under Ferrovial’s ownership, investments have been made of more than GBP12 billion in projects that have transformed the passenger experience. The most relevant include: the delivery of Terminal 5, the construction and opening of Terminal 2 and the construction of the world’s largest integrated baggage system.

Co-Head of the Global Infrastructure Group Richard Evans, said: ‘Ferrovial’s investment in Heathrow has been nothing short of transformative, and we are proud to have advised them on this transaction.’

The A&O team was led by partner Richard Evans and senior associate Cathy Gilmartin, assisted by associate Charlie Grainger.

London-based partners Dominic Long and Maeve Hanna and counsel Andrew Fincham provided regulatory and related advice and partner Charles Honee provided advice in respect of Dutch corporate law matters.