With this transaction, Ferrovial would
increase its ownership in 407 ETR to 48.29%
AMSTERDAM, March 13,
2025 /PRNewswire/ -- Ferrovial, a leading global
infrastructure company, has reached an agreement to acquire up to a
5.06% stake in 407 ETR from AtkinsRéalis for approximately CAD
$2.09 billion. The transaction is
structured in two tranches, with 3.30% to be acquired at closing
and 1.76% deferred for up to 18 months post-closing through a put
and call option agreement. The strike price for the put and call
option will be adjusted, based on an agreed formula taking into
account when it will be executed.
Separate deals have been announced today by which AtkinsRéalis
would sell its remaining 1.7% stake in 407 ETR to Canada Pension
Plan Investment Board (CPP Investments), and Public Sector Pension
Investment Board (PSP Investments) has entered into agreements to
acquire a 7.51% interest in 407 ETR from CPP Investments.
The transactions are expected to be completed during the second
quarter of 2025 and are subject to the closing of CPP
Investments' sale to PSP Investments, as well as other customary
closing conditions.
Highway 407 ETR is a 108 kilometer, all-electronic, open-access
toll highway located in the Greater Toronto
Area in Ontario, Canada.
It plays an important role in alleviating congestion on the
Greater Toronto Area roadways.
Each week, more than three million people travel on 407 ETR.
As a shareholder since 1999, Ferrovial has demonstrated its
enduring commitment to 407 ETR which serves the citizens of the
Greater Toronto Area improving
mobility and fostering growth in the region. The company has
longstanding relationships and a track record of successful
collaboration with its partners in this high-quality asset.
This press release contains inside information within the
meaning of article 7(1) of the Regulation (EU) Nº 596/2014, of the
European Parliament and of the Council, of 16 April 2014, on market abuse.
Forward-looking statements
This press release contains forward-looking statements. Any
express or implied statements contained in this press release
that are not statements of historical fact may be deemed to
be forward-looking statements, including, without limitation,
statements regarding the terms and conditions of the transaction,
as well as statements that include the words "expect," "intend,"
"plan," "believe," "project," "forecast," "estimate," "may,"
"should," "target," "anticipate" and similar statements of a future
or forward-looking nature, or the negative of these terms or other
similar expressions, although not all forward-looking statements
contain these words. Forward-looking statements are neither
promises nor guarantees, but involve known and unknown risks
and uncertainties that could cause actual results to differ
materially from those projected, including, without limitation:
risks related to our diverse geographical operations and Business
Divisions; risks related to our acquisitions, divestments and other
strategic transactions that we may undertake and considering that
our business is derived from a small number of projects; the impact
of competitive pressures in our industry and pricing, including the
costs of and lack of certainty in winning competitive tender
processes; general economic and political conditions and events and
the impact they may have on us; our ability to obtain adequate
financing in the future as needed; our ability to maintain
compliance with the continued listing requirements of Nasdaq Global
Select Market, Euronext Amsterdam and the Spanish Stock Exchanges;
lawsuits and other claims by third parties or investigations by
various regulatory agencies that we may be subject to; impact of
any changes in existing or future tax regimes or regulations; risks
specific to our securities, including the payment of future
dividends, which will depend on our financial condition and results
of operations, and the liquidity of our shares as a consequence of
the multiple listings in different jurisdictions; risks related to
increased digitalization and to cybersecurity threats; the impacts
of accidents or other incidents at our project sites and
facilities; physical and transitional risks in connection with the
impacts of climate change; risks related to increased scrutiny and
changing expectations in connection with sustainability and ESG
matters; risks related to the adequacy or existence of our
insurance coverage and any non-recoverable losses; risk associated
with the international nature of our business and operations; our
reliance on and ability to locate, select, monitor, and manage
subcontractors and service providers; our legal and regulatory
risks given that we operate in highly regulated environments and
may be subject to changes in regulations; risks related to our
holding company structure and from our joint venture and
partnership operations; and the other important factors
discussed under the caption "Risk Factors" in our Annual
Report on Form 20-F for the fiscal year ended December 31, 2024 filed with the U.S. Securities
and Exchange Commission ("SEC") which is available on the SEC
website at www.sec.gov, as such factors may be updated from time to
time in our other filings with the SEC. Any forward-looking
statements contained in this communication speak only as of the
date hereof and accordingly undue reliance should not be placed on
such statements. We disclaim any obligation or undertaking to
update or revise any forward-looking statements contained in this
press release, whether as a result of new information, future
events or otherwise, other than to the extent required by
applicable law. Forward-looking statements in this press release
are made pursuant to the safe harbor provisions contained in the
U.S. Private Securities Litigation Reform Act of 1995. We intend
such forward-looking statements to be covered by relevant safe
harbor provisions for forward-looking statements (or their
equivalent) of any applicable jurisdiction.
About Ferrovial
Ferrovial is one of the world's leading infrastructure
companies. The Company operates in more than 15 countries and has a
workforce of over 25,000 worldwide. Ferrovial is triple listed on
Euronext Amsterdam, the Spanish Stock Exchanges and Nasdaq and is a
member of Spain's blue-chip IBEX
35 index. It is also included in globally recognized sustainability
indices such as the Dow Jones Best in Class Index (former Dow Jones
Sustainability Index), and all its operations are conducted in
compliance with the principles of the UN Global Compact, which the
Company adopted in 2002.
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SOURCE Ferrovial
