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FCC and Bankia agree to sell Globalvia
to the Malaysian fund Khazanah Nasional
Berhad for 420 million euros
FCC and Bankia entered into an agreement
with the strategic investment fund of the
Malaysian Government, Khazanah Nasional
Berhad, for the sale of 100% of their shares
in Globalvia Infraestructuras for a figure that
could reach 420 million euros. FCC and
Bankia are joint owners of the concession
management firm, each with a 50% stake.
The agreement consists of an initial pay-
ment of 166 million euros and another de-
ferred payment that could reach 254 million
euros, including the interests corresponding
to this deferment. The transaction is subject
to a series of conditions that could result
in the suspension of the agreement, condi-
tions that include the attainment of certain
third party approvals and authorisations, as
well as the approval of the current 750 mi-
llion euro bondholders: USS, OPTrust and
PGGM.
The sale of Globalvia has counted with the
financial advice of JPMorgan and Macqua-
rie, and the legal advice of Hogan Lovells.
This operation is in keeping with the di-
vestments set out in the Strategic Plan im-
plemented by the Citizen Services Group,
which has resulted in revenues of around
2,000 million euros.
Globalvia is one of the world’s leading in-
frastructure concession management com-
panies, ranked among the top companies
in terms of number of concessions, accor-
ding to specialised infrastructure publica-
tions. The company, established in 2007,
manages 31 projects in seven different cou-
ntries, including highways, railways, hospi-
tals and ports.
Globalvia’s strategic objective is to genera-
te value for its shareholders by managing
its asset portfolio to continue to be a ben-
chmark within the infrastructure manage-
ment market. Globalvia’s target markets
are OECD countries, with special emphasis
on Spain, other European Union countries,
and North America.
The Citizen Services
Group could receive up to
210 million euros,
in an operation that is part
of its divestment plan
u s i n e s s