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Spain’s Ferrovial sells UK services business Amey – Reuters

ByINVESTOR

Oct 11, 2022

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MADRID, Oct 11 (Reuters) – Ferrovial (FER.MC) has reached an agreement to sell Amey Plc, its infrastructure services and engineering business in Britain, to buyout funds One Equity Partners and Buckthorn Partners, the Spanish company said on Tuesday.

With an enterprise value of 400 million pounds ($441 million), the estimated equity value of the deal will be about 245 million pounds, Ferrovial said in a statement.

The transaction is subject to regulatory clearances, but the company expects to complete it before year-end.

“The deal practically concludes the divestment of the services business,” said Ferrovial’s Chief Executive Officer Ignacio Madridejos.

The Spanish construction company will only retain its waste treatment business in the United Kingdom, along with road maintenance activities in the United States and an energy services unit in Spain.

In February, Ferrovial sold its infrastructure operation and maintenance business in Spain for 107.6 million euros ($104.4 million).

($1 = 0.9065 pounds)#

($1 = 1.0304 euros)

Reporting by Corina Pons
Editing by David Latona and Mark Potter

Our Standards: The Thomson Reuters Trust Principles.

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