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| FCC & Bankia sell Globalvia to the Malaysian fund Khazanah Nasional Berhard  FCC and Bankia have reached 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 payment of 166 million euros and another deferred 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, conditions that include the attainment of certain third party approvals and authorisations, as well as the approval of the current 750 million euro bondholders: USS, OPTrust and PGGM. The sale of Globalvia has counted with the financial advice of JPMorgan and Macquarie, and the legal advice of Hogan Lovells. This operation falls within the divestments set forth in the Strategic Plan implemented by the Citizen Services Group, which has resulted in revenues of around 2, 000 million euros. Globalvia is one of the world's leading infrastructure concession management companies, ranked among the top companies in terms of number of concessions, according to specialised infrastructure publications. The company, established in 2007, manages 31 projects in seven different countries, including highways, railways, hospitals and ports. Globalvia's strategic objective is to generate value for its shareholders by managing its asset portfolio to continue to be a benchmark within the infrastructure management market. Globalvia's target markets are OECD countries, with special emphasis on Spain, other European Union countries, and North America. write your comments about the article :: © 2015 Construction News :: home page |