The ongoing corporate strategy involves moving the registered seat from Spain to the Netherlands through a merger between the parent company and Ferrovial International, a Dutch public limited company that currently holds about 86 percent of Ferrovial’s assets. The new structure would see a foreign entity absorb the parent, yet this change is not expected to create any adverse effects within Spain. A Ferrovial spokesperson explained to El Periódico de España, representing the Iberian franchise, that Ferrovial Construcción España remains headquartered in Spain and Cintra continues to operate in the country with its workforce intact.
Concurrently, the group plans to list on the Amsterdam Euronext exchange, described as a step before potential U.S. listing while staying connected to the Ibex-35 index. The company has not disclosed a definite North American listing target or timetable. The move is framed as a strategic choice to broaden access to capital markets rather than a shift in the company’s core geographic footprint.
The primary rationale cited for pursuing this relocation is to improve access to capital. At present, Standard & Poor’s assigns a triple-A rating to the Netherlands, while Spain carries a lower standing in their assessment. Ferrovial notes that the company requires substantial funding for its project portfolio, and relocating to a country with a more stable regulatory environment is viewed as beneficial for long-term financing stability. The argument presented emphasizes a reliable legal framework as a driver of financial confidence.
Tax burden will not change in Spain
The cross-border move is expected to have no material impact on Spanish public finances. From a purely financial perspective, there should be no major changes, though minor adjustments in the dividend flow from the parent entity are possible. Estimates suggest a potential 1 to 2 percent reduction in the overall tax burden in Spain, while Ferrovial stresses that this corporate reorganization will not disrupt investment plans within the country.