FERROVIAL: AGREEMENT TO SELL ENVIRONMENTAL BUSINESS IN SPAIN AND PORTUGAL (ANÁLISIS BANCO SABADELL)
The company has just announced that within the framework of the sale of its Services division (9% of T.P.), it has reached an agreement to sell the Environmental business in Spain and Portugal to Prezero International GmbH, a company belonging to the Schwarz group. The deal implies an EV of € 1.3 Bn (~5% of FER’s EV) and an equity value of €~950 M (5% of FER’s market cap and 35% of NFD). The deal’s finalisation is subject to the normal conditions for this kind of move, and it is expected to be sealed in the second half of 2021. The business that has been sold generated € 130 M of EBITDA in 2020 (78% of the Services division’s EBITDA) and the capital gains from the sale are expected to reach some € 317 M (vs. € -17 M Net Profit’21 BS(e)).Ferrovial is a transportation company based in Spain. Co. is engaged in operations in the transportation sector. Co. specializes in the design, construction, management, administration and maintenance of transport infrastructures. Co.'s services range also includes the maintenance of parking lots, and land-, sea- and air-based transport networks. Co. is also engaged in the promotion and operation of short-stay parking lots, parking regulation and management services and promotion and sale of residents' parking.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.