|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||31.22 - 31.22|
|52 Week Range||22.00 - 31.22|
|Beta (5Y Monthly)||0.90|
|PE Ratio (TTM)||173.44|
|Forward Dividend & Yield||0.73 (2.33%)|
|Ex-Dividend Date||Nov 03, 2022|
|1y Target Est||N/A|
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Spanish construction giant Ferrovial said on Friday that none of its investors took an option to divest after a majority of its shareholders approved a plan to move the holding's headquarters to the Netherlands from Spain. "We are not aware of any shareholder exercising the right of separation," the company said on the last day for investors to sell their shares if they disagreed with the plan. The decision to move its jurisdiction to Amsterdam sparked a public spat with the government, which accused Ferrovial and its Chairman Rafael del Pino of disloyalty to Spain, and warnings from officials that it would be closely scrutinised by the tax agency.
British Airways and Virgin Atlantic are bracing for a dogfight with Heathrow as the airport prepares a legal challenge in a long-running row over passenger landing charges.
Spain's Ferrovial, which plans to move its holding company to the Netherlands, is handing control of a new subsidiary in Madrid to its chairman's son, an official document showed. Ferrovial International SE (FISE) appeared in the official Spanish registry of business entities on Thursday, the day shareholders overwhelmingly voted in favour of the move abroad designed to pave the way for its shares to be also listed in the United States, improving liquidity and access to financing. The Spanish government has criticised the infrastructure building and its chairman, Rafael Del Pino, calling the Dutch domicile plan ungrateful and hampering Spain's interests while arguing that a Spain-based company can list its shares in the United States, although there are no such precedents.
A plan by Spanish construction giant Ferrovial to move its holding company to the Netherlands won shareholder approval on Thursday despite opposition from a minority that included the chairman's brother. The company said the proposal got 93.3% approval at its annual general meeting while 5.8% voted against. Leopoldo del Pino, brother of Ferrovial's Chairman Rafael del Pino, listed as the fifth-largest investor, was among opponents, according to sources familiar with the vote.
Ferrovial shareholders vote on Thursday on a plan to move the Spanish construction group's holding company to the Netherlands, paving the way to a listing in the U.S. and potentially access to subsidies available there. Chief Executive Ignacio Madridejos said in a letter seen by Reuters that Ferrovial was not seeking any tax advantages by moving to Amsterdam, while citing "technical and operational" concerns over listing a Spanish company directly in the U.S. Ferrovial's proposal has irked the Spanish government and officials have warned that Spain's tax agency will closely scrutinise the deal if it is approved.
Two proxy advisers have separately recommended that shareholders of Spanish builder Ferrovial approve a board-proposed merger that would relocate its headquarters to the Netherlands, although both acknowledged some collateral effects. Ferrovial announced in February it would seek a reverse merger to be absorbed by its wholly-owned Dutch subsidiary FISE, arguing the move would serve as a platform allowing the company to be traded simultaneously in Spain, the Netherlands, and later, the United States, joining stock indexes there. Shareholders are set to vote on the merger on April 13.
Spain's stock market supervisor CNMV is studying the feasibility of a Spanish company listing its shares in the United States, after Ferrovial announced a plan to do so, the head of CNMV said on Wednesday. The construction company, which operates London's Heathrow airport and makes most of its revenues outside Spain, on Feb. 28 announced it planned to move its corporate domicile to the Netherlands with the ultimate goal of listing its shares in the United States and joining stock indexes there.
London's Heathrow Airport, Britain's main travel hub, expects passenger numbers this year to be at the upper end of its forecasts, as demand continues to bounce back after COVID restrictions despite business travel lagging. Heathrow, owned by Spanish group Ferrovial, Qatar Investment Authority and other investors, forecasts it will carry 58-73 million passengers in 2023, which is around 90% of pre-pandemic levels at the upper end of the range. Pent-up demand for leisure travel after three years of COVID-19 restrictions is driving passenger numbers, said Heathrow's Chief Executive John Holland-Kaye on Thursday.
Microsoft Corp (NASDAQ: MSFT) has authorized Spain-based infrastructure company Ferrovial SA (OTC: FRRVY) to build a data center near the Spanish capital. The contract could be worth several hundred million euros, as Microsoft eyes several investments worth more than €12 billion ($12.75 billion) across 17 regions in Europe, Reuters reports citing a daily newspaper. Also Read: Microsoft Cloud Introduces EU Data Boundary For Users In Phased Manner Ferrovial will likely build the data center in San
U.S. tech giant Microsoft has commissioned Spain-based infrastructure company Ferrovial to build a data centre near the Spanish capital, the Cinco Dias newspaper reported on Tuesday. While the amount has not been disclosed, Cinco Dias cited unidentified sources close to the matter as saying the contract could be worth several hundred million euros, as Microsoft plans a number of investments worth more than 12 billion euros ($12.75 billion) across 17 regions in Europe. The data centre is set to be built in San Sebastian de los Reyes, a city with a population of about 90,000 some 20 km (12 miles) north of Madrid.
As a relatively unknown junior education minister, Liz Truss set out her ambitions for Heathrow to become a four-runway airport.
Heathrow's Spanish owner is exploring a sale of its 25pc stake in the business amid interest from a French investor, following a bitter row with the regulator over airport charges.
Spain's Ferrovial is looking at options for its 25% stake in London's Heathrow, two sources told Reuters, and has held preliminary talks with external advisers on the future of its holding in Britain's biggest airport. The early stage discussions come amid interest in Ferrovial's stake from private equity firm Ardian, which has held talks with its own advisers on a possible joint proposal with Saudi Arabia's Public Investment Fund (PIF), these sources and another person familiar with the matter said. Ferrovial has yet to take a final decision and the discussions may not result in a sale, all the sources said.