Ferrovial closes the sale of Amey for 301.3 million euros
Ferrovial completed on Friday the sale of 100% of Amey, its UK services subsidiary, to a British company controlled by One Equity Partners and Buckthorn Partners, for 301.3 million euros (264.6 million pounds), almost 155 million less than the estimated value of 455 million euros.
According to the company’s filing with the Spanish Securities and Exchange Commission (CNMV), of the 301.3 million euro net consideration, 128.5 million euro (112.8 million pounds) was paid in cash.
The remainder will be paid through a seller’s loan of around EUR 172,8 million (GBP 151,8 million), repayable over the next five years at an interest rate of 6 % per annum, rising to 8 % after the third year.
The expected gain on the sale for the year ended 31 December 2022 is 55 million euros.
With this divestment, Ferrovial practically completes the sale of its former Services division, a process it had already announced it would carry out in 2018.
As part of the transaction, which was completed on schedule, Ferrovial retains, as previously announced, the waste treatment business, which will be integrated into its Energy Infrastructure and Mobility division.
These facilities have a workforce of 557 employees and handle around one million tonnes of waste per year.
