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| Merger of Ferrovial and Cintra overcomes last hurdle Ferrovial-owned toll road operator Cintra said its shareholders approved its merger with the parent company. Earlier last week, Ferrovial's shareholders approved the operation and, once all the legal requirements are fulfilled, the transaction is expected to be completed towards the beginning of December. The merger will create a world leader in infrastructure management and services. The new Ferrovial will have a presence in 49 countries, a workforce of 107,000 people and assets that amounted to 48.2 billion euro at 2008 year-end. Investors have already perceived the benefits of the merger, since Cintra's shares have appreciated by more than 50% since the merger was announced in late July. The transaction is being effected as a reverse merger, in which Cintra increases capital to absorb Ferrovial. Once the merger is complete, the resulting company will be renamed Ferrovial, S.A. Cintra will subsidiarize its concessions while maintaining its prestigious brand and its material and human resources. write your comments about the article :: © 2009 Construction News :: home page |