The Del Pino family’s reference partner, The Children’s Investment Fund Management, demonstrates its trust in Ferrovial. Not counting the founding family, the third largest shareholder of the infrastructure company, increased its position from 6.01% to 7.02%The company, listed on the Ibex-35 stock exchange, is in complete political turmoil after announcing that its headquarters has been relocated to the Netherlands.
This risk fund (hedge fund) participates in the company with financial instruments, not shares, although it has 51.11 million shares. Instruments without traditional participations It is valued at more than 1,349 million eurosConsidering that Ferrovial is trading at 26.4 Euros for each share; As confirmed by EL PERIÓDICO DE ESPAÑA of the Prensa Ibérica group in the records of the National Securities Market Commission.
Children’s Mutual Fund Management is headed by Chris Hohn. One of the features of this tool is its strong social commitment. Before the manager and his ex-wife divorced, he set aside 0.5% of the fund’s assets to charity and an extra 0.5% if it earned more than 11% in a year. Continuously invested in Spain: currently Owns 3.41% of Aenaairport manager and 7% on Cellnextelecommunications infrastructure company.
in an interview given Expansion A few weeks ago, The Children’s Investment expressed its satisfaction with the decision: “Ferrovial’s plan is a great idea and we support it 100%. Most of the company’s asset value is in North America, where the company owns a unique business that it invented for itself from the ground up. […] It makes sense to be listed in New York as it would allow North American investors to realize this value and fix the deep discount the company is currently listed for. from risk fund They ruled out a financial motive for the operation.
The company will vote on the transfer on April 13.
Ferrovial convened its next Shareholders Meeting on April 13, which must approve the transfer to the Netherlands, which was approved by the Board of Directors. The Spanish company’s change of headquarters is in danger If more than 2.57% of the company’s capital votes against. Because? The company promised to pay shareholders dissatisfied with the operation €26 per share, but set aside only $500 million for it.
Despite this, the infrastructure giant believes that the decision to close the final transfer, which will cost around 20m euros, will be approved by a majority of the Board. between the second quarter and the third of this yearAccording to official sources, during a meeting with the bondholders.
Who are Ferrovial’s shareholders?
The main shareholder of the company, which is among the 35 largest companies in Spain, Collecting 35.29% of the shares, Del Pino is the family epic. community: Rafael del Pino (20.4%) and his siblings María (8.2%), Leopoldo (4.15%) and Joaquín (2.54%). As with most companies such as Lazard and Norges Bank, the capital is part of Blackrock. A ‘no’ to any of these will blow up the transfer to the Netherlands.
Despite the large proportion of the largest participants, Most of Ferrovial’s capital public opennessthat is, transactions that can be bought and sold in the short or medium term. Approximately, the company estimates that more than 60%.
Inditex and Mercadona refuse to leave Spain
Two of the largest Spanish companies have confirmed that they have no plans to change their registered offices outside of Spain. Juan Roig, head of the food chain, pointed out in the official presentation of the results: He does not plan to move and hopes to stay in Spain for many years.Although he also believes Ferrovial has every right to do so.
Óscar García Maceiras, CEO of the company founded by Amancio Ortega, declined to comment on the company’s move, although he wanted to emphasize it. inditex paid more than 1,800 taxes in 2022.