1. Ferrovial
  2. Investors

Ferrovial reports that, once the conditions precedent to the operation were fulfilled, it has closed the sale of Broadspectrum, business of the Services division in Australia and New Zealand.

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Published on 06/30/2020

On corporate transactions

FERROVIAL, S.A. (the “Company” or “Ferrovial“), in accordance with article 227 of the Consolidated Text of the Spanish Securities Market Act (Texto Refundido de la Ley del Mercado de Valores), hereby notifies the following

OTHER RELEVANT INFORMATION

We refer to the communication of 23 December 2019 (registration number 285,192) regarding the agreement between the Company and an entity controlled by Ventia Services Group Pty Limited for the acquisition by the latter of Broadspectrum (business of the Services division of the Ferrovial group in Australia and New Zealand).

Once the conditions precedent to the operation were fulfilled, today the parties have carried out the completion of the transaction.

The price received by Ferrovial for the sale (shares and shareholder loans) amounts to AUD 465 million (€ 291 million approximately). This figure includes the adjustments agreed in the share purchase agreement, which are usual in these types of transactions, and does not include the value of Ferrovial group’s stake (50% of the share capital) in a joint venture with a local partner, for which there is an irrevocable purchase offer issued by Ventia Services Group Pty Limited for AUD 20 million (€ 12 approximately). Both prices in euros include a positive impact from FX hedges of € 5 million.

Broadspectrum holds an estimated net cash position of AUD 123 million (€ 77 million approximately) at closing. The increase in net cash at Ferrovial from this transaction will be € 214 million (amount of the sale of shares and shareholder loans less Broadspectrum net cash position).

After completion, foreign currency translation differences reflected in reserves are recycled to the consolidated profit and loss account with no effect in cash or equity. The estimated negative impact in the consolidated profit and loss account is € 75 million.

Madrid, 30 June 2020

Santiago Ortiz Vaamonde

Secretary of the Board of Directors of Ferrovial

More information about this Other Relevant Information

English translation for information purposes only. In the event of discrepancies between English and Spanish version, the Spanish version shall prevail.

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