2023-11-29 00:02:01
This operation, however, remains subject to the green light from the stock market watchdog, specifies the company, which acquired a stake in the company managing Heathrow airport in 2006, as part of a takeover bid.
“Over the last 17 years, as an investor, we have contributed to the transformation of Heathrow, alongside other shareholders,” underlines Luke Bugeja, head of Ferrovial’s airports branch, in the press release. “In particular, we oversaw a £12 billion investment, increased (airport) capacity with the construction of Terminal 2 and improved operational performance.”
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Ferrovial’s controversial move
This announcement comes almost six months following the transfer of Ferrovial’s head office to the Netherlands, finalizing a process announced to everyone’s surprise at the start of the year and which triggered a heated controversy in Spain.
The group chaired by Rafael Del Pino, the third richest man in Spain with a fortune estimated at $5.2 billion, said it wanted to strengthen its internationalization by having access to new financing.
But for its detractors, and in particular for the Spanish government, this move is above all motivated by tax reasons, the corporate tax rate being lower in the Netherlands than in Spain.
In our archives: Subsidiary in Spanish hands
Ferrovial, which holds a vast portfolio of assets around the world, achieved 6.2 billion euros in turnover in the first nine months of the year, 12.3% more than in the same period. period of 2022.
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