Deliver the ‘Ferrovial Case’. Leopoldo del PinoRafael’s brother, largest shareholder and chairman railway, will vote against the transfer of the registered office of the infrastructure company to the Netherlands, As developed by El Confidencial. Rafael’s brother, who owns a 4.15% stake in the capital, agrees with the decision to go public in the United States but keeps its headquarters in Spain.
As long as an absolute majority of shareholders voted in favor, Leopoldo’s ‘no’ answer, a priori, would not have prevented Ferrovial from packing its bags for the Netherlands. However, you can demand that the company buy back your shares. For this, Ferrovial has allocated a budget of 500 million so that those who request will receive 26 euros for each participation. 500 million is equal to 2.57% of the capital, and only Leopoldo adds 4.15%Therefore, if you want to sell your position, the company must pay you close to 800m euros and put Ferrovial’s move to ‘checkmate’. The company did not want to comment on this.
Leopoldo leaves the door open to support the decision of the Spanish National Commission for the Securities Market, Stock Exchanges and Markets and the Government’s Ferrovial Board. Do not immediately resolve the difficulties that Spanish companies have had to list in the USA.. According to Ministry of Economy sources, Economy Minister Nadia Calviño admits that she is working to identify barriers to that happening.
Disputes between Ferrovial and Leopoldo
Conflicts between Ferrovial Board decisions and Leopoldo’s views are not new. Most notably was the event involving Joaquín Ayuso and Santiago Bergareche, both former CEOs of the company and Rafael del Pino’s right-hand man. They took a seat on the Board of Directors, which Leopoldo did not like, and made the company ugly under corporate governance rules. finally output. The last conflict also involved a Council president.Leopoldo opposed the renewal of José Fernando Sánchez-Junco as director, as he had been in office for more than twelve years.
Who are Ferrovial’s shareholders?
Rafael del Pino has the largest share in Ferrovial with 20.4%; followed by her sister, María, with 8.2%. Behind him, the aforementioned Leopoldo and Joaquín own 4.15% and 2.54% respectively. Among the four, they make up more than a third of the company, specifically 35.29%.According to the National Securities Market Commission registry.
The largest shareholder outside the Del Pino family, risk fund (risk fund) Children’s Investment Fund Managementone with 7.02% shareAs announced by EL PERIÓDICO DE ESPAÑA and the economic supplement of Prensa Ibérica, ACTIVOS, increasing by 1% recently.