Fernando Rodríguez | Barely 10% of Spain’s 6 listed constructors’ business is generated at home. But problems like the recent cancellation of the real estate plan included in Madrid’s Operacion Chamartin, due to the decision of the city council which is close to Podemos, are all contributing to maintaining the generic perception that they are “Spanish companies” subject to political risk.
F. Barciela / F.G. Ljubetic | The bios about Carlos Slim, the third richest man in the world according to Forbes, are very clear about the origins of his fortune. He made the most of his money during the peso crisis by acquiring several blocks of shares in the biggest Mexican companies at a bargain prices. This is how he will acquire FCC, one of the biggest Spanish construction firms, for just…7.6 euros per share.
MADRID | The Corner | Barely a month ago the British press reported that Spanish Ferrovial was interested in taking over one or more of Aberdeen, Glasgow o Southampton airports. Heathrow Airport Holding (former BAA) announced oit will sell 100% of them to a Ferrovial-Macquarie consortium for 1.048bn pounds (around €1.31bn). The operation is expected to take place by Jan15.
MADRID | By Julia Pastor | British Ferrovial’s subsidiary Amey was granted with two contracts in the UK on Monday: a 5-year project for maintaining houses and facilities of the Ministry of Defence, and a second one for partly refurbishing the main country’s rail operator.
MADRID | By Jaime Santisteban | In a crucial day for the long-awaited banking union in Europe, market makers also chattered about many other issues, like the Bank of Spain -which has denied it plans to subject Spanish lenders to stress tests this month- achieving less tough criteria for Spanish banks in the upcoming EU stress tests.
MADRID | By The Corner Team | Whether they are awarded with the projects or not remains unknown but Spanish construction firms are bidding for relevant purchases and infrastructures in Europe with the aim of continuing their international expansion and thus softening the fall in their domestic market. As Ferrovial would have make a €800 million offer for control stakes in Aberdeen, Glasgow and Southampton airports, ACS, OHL and FCC will fight to build a submarine tunnel connecting Germany and Denmark valued at €5,5 billion.
MADRID | The contracts may be extended by another three years, which would increase Ferrovial’s backlog to more than 216 million euro over a six-year period.
LONDON | European traffic performed well, up 7.4%, despite the continuing weakness of the European economy. Amongst the countries where traffic increased were Italy, France and Germany.
MADRID | Enterprise will now be integrated into the UK Ferrovial Services’ subsidiary, Amey, creating one of the most diverse companies in the sector.
MADRID | Speaking to the shareholders, Ferrovial Chairman Rafael del Pino called for prioritizing economic growth and strong companies to enable Spain to create jobs once again. Ferrovial Shareholders’ Meeting, held today in Madrid, passed all the items on the agenda, including a dividend payment charged to reserves amounting to 0.25 per share; the company already distributed 1 euro per share in December.