1. Ferrovial
  2. Investors

The companies which manage the operation of the Radial 4 tollway in Madrid have agreed to request a judicial declaration of insolvency (concurso de acreedores)

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Published on 09/17/2012

FERROVIAL, S.A. (the Company or FERROVIAL), pursuant to the provisions of article 82 of the Spanish Securities Market Act (Ley del Mercado de Valores), hereby notifies the National Securities Market Commission (Comisión Nacional del Mercado de Valores) of the following:

REGULATORY DISCLOSURE

The Boards of Directors of Autopista Madrid Sur Concesionaria Española, S.A. and Inversora de Autopistas del Sur, S.L., the companies which manage the operation of the Radial 4 tollway in Madrid, and in which an indirect interest is held by Ferrovial, S.A. and Sacyr Vallehermoso, S.A. as well as by Caja Castilla La Mancha Corporación, S.A., have agreed to request a judicial declaration of insolvency (concurso de acreedores). The request was filed with the authorised court today.

The Radial 4 project has been directly affected by external factors (substantial reduction in forecasted traffic, additional expropriation costs, economic recession, etc.) which prevent it, under the current conditions, from honouring several payment obligations with expropriated parties and financial entities.

A significant factor in this decision was that the potential measures foreseen under law to aid the concession were not effectively implemented by the contractor’s governing body.

In light of the above, said companies made the aforementioned decision which, furthermore, is mandatory under law, and trust in the possibility of reaching a solution in the upcoming months.

Madrid, 14 September 2012

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