Ferrovial completes sale of Amey

completed

Ferrovial has completed the sale of 100% of Amey Group to a UK company controlled by funds managed by One Equity Partners, in partnership with Buckthorn Partners. The transaction represents an enterprise value of £400 million (€455 million) and equity value of approximately £264.6 million (€301.3 million). The consideration was paid partly in cash in a net amount of approximately £112.8 million (€128.5 million) and the remaining portion will be paid through a vendor loan note of approximately £151.8 million (€172.8 million), issued at completion and repayable over five years at 6% annual interest (increasing to 8% after the third year). Ferrovial expects a capital gain of €55 million after charging reserves for translation differences and interest rate hedges to profit and loss. As previously announced, following completion of the deal within the established deadlines, Ferrovial retains the waste treatment business, which is to be integrated into its Energy Infrastructure and Mobility division. The waste treatment business employs a total of 557 people and manages around one million tons of waste per year.