Ferrovial, the Spanish infrastructure firm is on high gear for acquisitions in the market. This welcome change signifies the end of its five year austerity plan to cut debt. It also is a sign that the company is diversifying into other markets away from its core construction business decimated by the last recession.
Amongst Ferrovial's assets is Heathrow Airport Holdings and has transformed itself into a global infrastructure company with a current cash flow of over Eur1 billion or about US$1.3 billion. It also has majority stakes at 407-ETR toll road in Canada among others.
In its recent move, the company has entered into a deal to purchase the UK maintenance and utility firm Enterprise for the price of GBP385 million or US$588 million. This alone doubles the Spanish giant's presence in the UK with interlocking service providers. Other projects being eyed are the privatization of the Midway Airport in Chicago among others.
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