Ferrovial

European economy 6th July 2023

Ferrovial reaffirms commitment to air taxis and signs agreement with Milligan to develop vertiports in UK

Link Securities | Ferrovial (FER) is making progress in its bid to become a major player in the booming air taxi business, according to elEconomista. Ferrovial has just sealed an alliance with British firm Milligan to boost this activity in the UK with the development of its first vertiports in the country. The group’s initial road map includes venturing into this area in the United States, the United Kingdom and…

Companies, Spanish economy 20th April 2023

TCI further increases its stake in Ferrovial to 8% of its share capital

Alphavalue / Divacons | The Children’s Investment Fund (TCI) continues to strengthen its stake in the Spanish construction company and now holds 8% of its share capital. According to CNMV records, last Wednesday, one day before the Ferrovial General Shareholders’ Meeting, the fund acquired another package of shares with a current market value of close to €200 million. On the other hand, the construction, services and concessions company appointed Banco…

In Spain, Spanish economy 14th April 2023

76% of shareholders attend Ferrovial Shareholders’ Meeting, 93% vote for move to Netherlands

Fernando González Urbaneja | Ferrovial’s shareholders’ meeting passed with evident calm and a consensus materialised in 76% attendance and 93% of votes in favour of the decision to move the company’s headquarters to the Netherlands. All the dust that has swirled around the agreement to move the company’s head office has come to nothing for the company’s shareholders, who have validated the board’s proposal without criticism and without any rejection…

Companies, In Spain, Spanish economy 13th April 2023

Ferrovial AGM to vote today on HQ change, which would be approved by 50% of shareholders; Norges rectifies and will support the proposal

Intermoney: Ferrovial’s Shareholders’ Meeting will debate and vote today on the Board of Directors’ proposal to move its registered office to the Netherlands, in order to be able to list on Wall Street without having to resort to ADRs. The proposal, announced on 28 February, has caused considerable political turmoil. In the event that the measure is approved, shareholders who oppose it could exercise their right of separation by selling…

Spanish economy, Spanish Politics 12th April 2023

Government vs. Ferrovial, an asymmetrical equation

Fernando González Urbaneja | It is not often that a government directly confronts a business decision taken by a responsible collegiate body. And when it does happen, it is not often that the government ends up getting fleeced. The relationship of political power with any business, no matter how large, is usually asymmetrical, in favour of the executive. Businessmen avoid confrontation because even if they achieve their aims, they always…

Spanish economy 6th March 2023

Ferrovial: Sánchez loses his temper

Fernando González Urbaneja | What we have been hearing and reading these days about Ferrovial’s change of headquarters from Madrid to Amsterdam is astonishing; both the round of interventions by members of the government and some reports and editorials in very reputable media. For example, the front-page headline in Friday’s El País: “Ferrovial was awarded contracts worth 1 billion in the Sánchez era” requires you to read it twice and…

Companies, Spanish economy 3rd March 2023

TCI, with 6.4% of Ferrovial’s capital, defends change of HQ and says it can help correct large share price discount

Link Securities | Ferrovial (FER) has set out the rules for carrying out the move of its headquarters to Amsterdam, Expansión newspaper reported on Wednesday. The company will compensate shareholders opposed to the move with €26 per share, the average price of the last three months. In relation to this same issue, the newspaper Expansión reports on Thursday that the largest foreign investor in FER, The Children’s Investment (TCI), which…

In Spain, Spanish economy, Spanish Politics 1st March 2023

Podemos effect drives Ferrovial out of Spain

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…

Spanish economy, Spanish Politics 28th February 2023

Ferrovial moves to the Netherlands and becomes “Societas Europaea”.

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…

Companies, Spanish economy 4th January 2023

Ferrovial to build data centre for Microsoft in Madrid

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…

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