Ferrovial, the large Spanish construction company owned by the Del Pino family, one of the 35 companies that make up the Ibex 35, is moving to the Netherlands and the Spanish press is talking in its editorials about “Unrest in the government over Ferrovial’s flight to the Netherlands” (Vozpópuli), “The possible domino effect of Ferrovial” (El Economista) and “The Podemos effect pushes Ferrovial out of Spain” (El Español)…. Given that…
CdM | The Board of Directors of Ferrovial has approved a proposal to the General Meeting to merge the parent company of the Ferrovial, S.A. group with its subsidiary Ferrovial International SE by absorption of the former by the latter. As a result, the head of the group will become a European public limited company (“Societas Europaea”) with its registered office in the Netherlands. At the same meeting, the Board…
Intermoney | Ferrovial are to build a new data centre for Microsoft in San Sebastián de los Reyes (Madrid), according to the business and finance daily, Cinco Días. Although the amount of the investment has not been disclosed, the newspaper’s sources put it at “hundreds of millions”… Microsoft plans to invest up to 12 billion euros in 17 data centres in Europe; in this way, the company would comply with…
Bankinter | Ferrovial is interested in participating in the development of the new airport in Warsaw, which will be located between the Polish capital and the city of Lodz. The project is valued at around 8 billion euros and the Spanish firm has put itself forward to invest in it, along with other partners. Analyst team’s view: Good news for Ferrovial. The operation would make strategic sense, as it would…
Link Securities | Iberdrola, via its susidiary Avangrid, Acciona, Ferrovial and EDPR will compete for some of the five areas which will be up for auction in California to install offshore floating wind turbines. This will be the first offshore wind energy auction on the west coast of the US, as well as the first the country will carry out to support the potential development of offshore floating wind energy on…
Ferrovial has reached an agreement for the sale of 100% of the Amey group, almost completing the divestment of its former Services division. The acquiring vehicle is a UK company controlled by funds managed by One Equity Partners. They are entering into the transaction alongside their acquisition partner Buckthorn Partners. The transaction represents an enterprise value of GBP 400 million (€455 million) and an estimated equity value of approximately GBP…
The National Markets and Competition Commission (CNMC) has fined six of Spain’s leading construction companies 203.6 million euros for having altered thousands of public tenders for building and civil works infrastructure contracts over 25 years. The companies penalised are Acciona, Dragados, FCC, Ferrovial, OHLA and Sacyr. According to the CNMC, between 1992 and April 2017, the construction companies met weekly to analyse tenders for works carried out by the various…
Bankinter | The UK’s Heathrow airport has improved its passengers’ estimate for 2022 to 54,4 million, which would mean a recovery of 67% of 2019 levels. It’s an improvement of 3% on the 52,8 million forecast in April. The company foresees revenues doubling to 2.593 billion pounds and adjusted EBITDA growing 257% to 1.370 billion pounds. That said, it has warned that uncertainty remains high and that there are significant…
Intermoney | Ferrovial (Hold, Target Price 24 euros) would be finalising the sale of Amey, its services division based in the UK, for close to 234 million euros. This is according to information on Tuesday from daily Cinco Días, citing Sky News. The buyer would be a consortium of funds and venture capital firms, specifically One Equity Partners and Buckthorn Partners. It is expected that the process will be closed…
Bankinter | Ferrovial has reached an agreement with Carlyle to buy its stake in the new Terminal 1 at JFK airport (New York). It will acquire 96% of the vehicle through which The Carlyle Global Infrastructure Fund holds 51% of the concession. Ferrovial’s investment will be 1.140 billion dollars. The accord is subject to certain suspensive conditions and the company will provide more details on 9 June at 18:00h. The…