(Reuters) - Spanish construction giant Ferrovial agreed on Thursday to buy a 5.06% stake in motorway 407 ETR in Canada for C$2.09 billion ($1.45 billion) from Canadian rival AtkinsRealis. Ferrovial is
Ferrovial Increases Stake in Canadian 407 ETR Motorway
(Reuters) - Spanish construction giant Ferrovial agreed on Thursday to buy a 5.06% stake in motorway 407 ETR in Canada for C$2.09 billion ($1.45 billion) from Canadian rival AtkinsRealis.
Ferrovial is set to increase its stake in the motorwa to 48.29% after the deal, the company said in a filing to the Spanish stock market regulator.
The motorway is located in the Greater Toronto Area, in Ontario and the transaction is expected to be completed during the second quarter of 2025, Ferrovial said.
The Spanish engineering company has been focusing in the toll road business on the U.S. market it considers more lucrative than other infrastructure projects in Europe.
($1 = 1.4373 Canadian dollars)
(Reporting by Javi West Larrañaga in Gdansk, editing by Inti Landauro and Tomasz Janowski)
