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Ferrovial

March 16, 2011

Construction might not be an area a family business would want to be in during a credit crisis – after all didn’t the crisis start with a collapse in the US property market? Katie Barker takes a look at how family businesses in the sector are coping

Huge family fortunes have been made in construction. Just ask Riley Bechtel – the chief executive of the eponymous company his great-grandfather founded in 1898 and now he heads up. In 2009, the Bechtel Group had revenues of more than $30 billion, up from $27 billion in 2007.

November 4, 2010

Ferrovial, the family-controlled infrastructure firm, announced 2 November that it has sold one of its airport holdings, Swissport International AG, to private equity firm PAI Partners for €654 million.

Ferrovial, the family-controlled infrastructure firm, announced 2 November that it has sold one of its airport holdings, Swissport International AG, to private equity firm PAI Partners for €654 million.

Swissport is the world's leading passenger and cargo handling company, and has an enterprise value of approximately €888 million, according to Ferrovial.

October 29, 2010

Ferrovial, the family-controlled infrastructure firm, announced it returned to profit in the third quarter thanks to a recovery in international construction and asset sales.

Ferrovial, the family-controlled infrastructure firm, announced it returned to profit in the third quarter thanks to a recovery in international construction and asset sales.

The Madrid-based company, which released its financial figures on 28 October, said it had made a net profit of €315 million in the first nine months of 2010, compared with a loss of €191 million during the same period in 2009. The company was hit hard by the dramatic fall in the Spanish construction sector during the financial crisis.

July 21, 2010

The latest attempt by Spain-based infrastructure firm Ferrovial to cut its huge debt pile has seen it sell its 50% stake in Autopista Trados 45.

The latest attempt by Spain-based infrastructure firm Ferrovial to cut its huge debt pile has seen it sell its 50% stake in Autopista Trados 45.

The €67 million sale to FINAVIAS, an investment vehicle for the infrastructure funds of AXA Private Equity, is part of what second-generation chairman Rafael del Pino calls an asset rotation policy.

October 20, 2009

Shareholders of family-controlled infrastructure firm Ferrovial have approved the merger with its subsidiary company Cintra, decreasing the del Pino family's holding by 14% to 44%.

Shareholders of family-controlled infrastructure firm Ferrovial have approved the merger with its subsidiary company Cintra, decreasing the del Pino family's holding by 14% to 44%.
 
The deal sees shareholders in Cintra offered one Ferrovial share for every four they currently hold in Cintra. The new company will operate under the name Ferrovial SA and the merger also allows for the creation of a new company, Cintra Infrastructures, which will control the toll road assets.
 

August 10, 2009

A proposed merger between Spain-based Ferrovial, the family-controlled infrastructure firm, and its subsidiary company Cintra is set to go ahead after it received approval from the boards of both companies.

A proposed merger between Spain-based Ferrovial, the family-controlled infrastructure firm, and its subsidiary company Cintra is set to go ahead after it received approval from the boards of both companies.
 
The move comes despite the fact that merging the two companies will reduce the shares held by the controlling Del Pino family from 58% to around 44%. However, analysts suggest the drop in share numbers will not significantly reduce the family's control.
 

March 10, 2008

The British Airports Authority has sold World Duty Free Ltd to a family-owned company.

The British Airports Authority has sold World Duty Free Ltd to a family-owned company. Airport foodservice provider Autogrill, controlled by the Benetton family, bought 100% of the company for €717 million. The sale of the 58 duty free stores has given Ferrovial, the family-owned construction firm that bought BAA in 2006, a cash-boost to help with debt it incurred with the acquisition.

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