BlackRock increases its stake in Ferrovial to 3.61%

Black rock announced to the Dutch stock exchange, AFM, a share of 3.61% in the capital Railway almost a week after the company led by Rafael del Pino made its debut on the Amsterdam Stock Exchange. The largest investment fund in the world thus increases its presence in the Spanish company, where it had 3.176 percent. This Ferrovial shareholder has started to communicate his movements in Ferrovial shares to the Dutch market watchdog, which other participants will also have to do in case they make any changes.

In the records of the National Commission for the Securities Market (CNMV) 0.000% appears as the last communication of BlackRock as of this Wednesday, compared to 3.176% it previously published. Sources from the company explained to Europa Press that this is due to the change in the headquarters of the construction company, by which the significant shareholders of the company must communicate their movements to the Dutch supervisor, and not to the Spanish one.

This move, reports Europa Press, comes days after the British fund The Children’s Investment Fund (TCI) increased its stake in the construction company again, surpassing 9 percent of the capital for the first time since it entered its stake in May 2019.

As stated in the listing prospectus on the Amsterdam Stock Exchange, the fund has been acquiring company shares in recent monthswhich makes him the second largest shareholder of the company, after its president Rafael del Pino, who owns 20.4% of the capital.

The TCI fund is managed by its founder, Christopher Hohn, a British billionaire who is ranked 283rd on the Forbes list of the richest people on the planet, with a net worth of close to $7,000 million (€6,400 million). In this way, Hohn has already overtaken the president’s sister María del Pino, whose share in Ferrovial’s share is limited to 8.2 percent. The third largest shareholder is his second brother Leopoldo del Pino with 4.1 percent, who voted against the transfer of the headquarters to the Netherlands at the last shareholders’ meeting.

The list of significant participants is closed by BlackRock and Lazard Asset Management, another American fund with a 3 percent stake.

The debut on the Amsterdam Stock Exchange ends a turbulent period of more than three months for the company since it announced its intention to move its headquarters to the Netherlands on February 28, which caused great controversy at the political level. of the largest Spanish companies with a large international projection.

Its main goal is to be listed on the stock exchange in the United States, the country that in 2022 concentrated 32.3% of the 7.551 million it collected worldwide and in which it expects to be listed before the end of the year. There are about 4,180 employees in that country, compared to 5,413 in Spain.