Business
Ferrovial agrees to acquire up to 5.06% of 407 ETR from AtkinsRéalis
Ferrovial, a leading global infrastructure company, has reached an agreement to acquire up to a 5.06% stake in 407 ETR from AtkinsRéalis for approximately CAD $2.09 billion. The transaction is structured in two tranches, with 3.30% to be acquired at closing and 1.76% deferred for up to 18 months post-closing through a put and call option agreement. The strike price for the put and call option will be adjusted, based on an agreed formula taking into account when it will be executed.
About this update from Ferrovial N.v.
[{"type":"text","content":"With this transaction, Ferrovial would increase its ownership in 407 ETR to 48.29%","length":82,"tagName":"p","attribs":{}},{"type":"text","content":"AMSTERDAM, March 13, 2025 /PRNewswire/ -- Ferrovial, a leading global infrastructure company, has reached an agreement to acquire up to a 5.06% stake in 407 ETR from AtkinsRéalis for approximately CAD $2.09 billion. The transaction is structured in two tranches, with 3.30% to be acquired at closing and 1.76% deferred for up to 18 months post-closing through a put and call option agreement. The strike price for the put and call option will be adjusted, based on an agreed formula taking into account when it will be executed.","length":533,"tagName":"p"},{"type":"image","alt":"Ferrovial (PRNewsfoto/Ferrovial)","displaySize":"","headline":null,"caption":"Ferrovial (PRNewsfoto/Ferrovial)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":139,"url":"https://media.zenfs.com/en/prnewswire.com/a271effe07e12e1b4d9fa2c03b982e4e"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/XEUxb9ZgqcsgqBgvYIIgMA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI0NTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/a271effe07e12e1b4d9fa2c03b982e4e","width":400,"height":139}},"href":"https://mma.prnewswire.com/media/2389761/FER_BR_FERROVIAL_MAIN_RGB_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Separate deals have been announced today by which AtkinsRéalis would sell its remaining 1.7% stake in 407 ETR to Canada Pension Plan Investment Board (CPP Investments), and Public Sector Pension Investment Board (PSP Investments) has entered into agreements to acquire a 7.51% interest in 407 ETR from CPP Investments.","length":318,"tagName":"p"},{"type":"text","content":"The transactions are expected to be completed during the second quarter of 2025 and are subject to the closing of CPP Investments' sale to PSP Investments, as well as other customary closing conditions.","length":212,"tagName":"p"},{"type":"text","content":"Highway 407 ETR is a 108 kilometer, all-electronic, open-access toll highway located in the Greater Toronto Area in Ontario, Canada. It plays an important role in alleviating congestion on the Greater Toronto Area roadways. Each week, more than three million people travel on 407 ETR.","length":299,"tagName":"p"},...