Abu Dhabi sovereign wealth fund Mubadala Investment Company is looking to acquire a stake in London’s Heathrow Airport, Bloomberg reported on Tuesday, citing people familiar with the matter.

Mubadala considered the stake acquisition after Paris-based private equity firm Ardian approached the company, the news agency reported.

No formal offer has been made and deliberations are still ongoing.

The sovereign wealth fund also has not come up with its final decision on the matter, the report stated.

In November 2023, Spanish infrastructure company Ferrovial announced it had reached an agreement for the sale of its entire stake in FGP Topco, the parent company of Heathrow Airport Holdings, for £2.368 billion ($2.98 billion) to Saudi’s Public Investment Fund (PIF) and France's Ardian.

(Writing by Cleofe Maceda; editing by Seban Scaria)