“The market response has been positive, as it is listed with a slight increase in price compared to the close of this Tuesday, but when the company itself announced that shareholders who oppose the decision will receive 26 euros per title, it is something above the current market value,” said XTB broker Darío García. “If the operation ends, as the company announced, it will be a historic event in the history of the Spanish stock market. can set a precedent for other companies that get most of their business out of our bordersGarcia says.
This analyst points to three reasons Ferrovial was pushed to make this decision. On the one hand, the current structure of Ferrovial, a holding company with interests abroad through subsidiaries and concessions. Many of these companies operate under the Ferrovial umbrella and Ferrovial generates its main income from dividends. “The Dutch tax ecosystem is much more advantageous for such companies”Explain XTB analysts.
Second It is the purpose of being listed in the United States market to increase the liquidity of the stocks.. Also, through the Dutch legal framework, companies under Dutch jurisdiction have more regulatory facilities to be listed on Wall Street.
in the last place, The regulatory protection of the Dutch framework against possible hostile takeover offers has a feature in this country.. Through the creation of foundations where representative shareholders can add their stake in the company, thereby strengthening their political rights against undesirable shareholders who will see their political rights diluted. This part is not surprising because Rafael Del Pino currently owns a 20% stake in Ferrovial through a company called “Rijn Capital” based in the Netherlands.
Really Ferrovial International SE has existed since before BrexitIt was originally established in the United Kingdom and was fully handed over to the Netherlands before “Article 50” came into force.