Ferrovial informs that its subsidiary Cintra has entered into an agreement for the sale of 65% of the share capital of Autopista del Sol (Ausol) to the investment fund Meridian for €447 M.
Published on 06/14/2019
Transmissions and purchases of capital undertakings
Pursuant to article 227 of the Consolidated Text of the Spanish Securities Market Act (Texto Refundido de la Ley del Mercado de Valores), FERROVIAL, S.A. (the Company or FERROVIAL) reports the following:
Cintra, a subsidiary of Ferrovial, has entered into a sale and purchase agreement with the investment fund Meridiam pursuant to which Meridiam will acquire 65% of the share capital of the company Autopista del Sol, C.E.S.A. (Ausol), concessionaire of the Costa del Sol toll road. Cintra will retain a 15% interest in the share capital of Ausol, holding a put option, and Meridiam a call option, over such 15%.
The purchase price for the 65% of Ausol share capital amounts to 447 million euros. The transaction will generate capital gains for Ferrovial of an approximate amount of 474 million euros. Additionally, Ferrovial will be allowed to exclude from the scope of consolidation the whole amount of the project’s gross debt with third parties, which amounts to 603 million euros (the net debt being 542 million euros).
The completion of the transaction is subject to the corresponding administrative and funders’ approvals been obtained.
Madrid, 14 June 2019
Santiago Ortiz Vaamonde
Secretary no Director of the Board of Directors of Ferrovial, S.A.
English translation for information purposes only. In the event of discrepancies between the English and the Spanish version, the Spanish version shall prevail.
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