Ferrovial’s shares advanced a shy 0.22% after its exit from Spain was approved

Actions of Railway This Friday, they opened with a growth of 0.42%, up to 27.50 euros per title, thus slipping into the largest increases in IBEX 35 at the beginning of the trading day. However, at this time of the morning they progress at a lower rate (0.22%).

A few minutes later, at 9:20, the headlines of the company he chairs Raphael del Pino They softened their growth to 0.23%, up to 27.45 euros, and all this after the historic meeting that the group held yesterday and at which it decided transfer to the Netherlands.

After yesterday’s market close, the exact percentage of support for this company’s decision is known: The proposal was supported by 93.3 percent of Ferrovial shareholders who voted at the assembly to move the headquarters of the group to the Netherlands, according to the minutes of the meeting.

The quorum of the assembly reached 77.6% between those present and those represented, of which 93.3% gave their consent to item 10.1 of the agenda, which dealt with the merger with the Dutch subsidiary.

The main shareholder of Ferrovial is its president, Rafael del Pino, who controls 20.4% of the capital, followed by his sister María del Pino (8.2%); the British TCI fund (6.4%), whose founder is Christopher Hohn, a British billionaire who ranks 273rd on the Forbes list of the world’s richest people; his other brother Leopoldo del Pino (4.1%) and funds BlackRock (3.18%) and Lazard (3%).

CEOE reaction

President of the association CEO, Antonio Garamendihe criticized the opposition shown by the Government to the transfer of Ferrovial to the Netherlands and, in accordance with the matter, considered that “hunting and capturing the President or the Del Pino family was not the most appropriate”.

However, he applauded the final attitude of “respect” expressed earlier by the Spanish executive green light of Ferrovial’s board to move the company’s headquarters to the Netherlands, a proposal that received the support of 93.3% of shareholders.

“I am glad that the government’s position is an expression of respect” about a strictly business decision, Garamendi emphasized in an interview for TVE, and reminded that, on the other hand, “there are companies that come to Spain and we like them to come”.

In his opinion, “all the uproar that arose should have been avoided”; “I should have talked to the company differently.”

For his part, he asked if there was one Legal certainty in Spain, explained Garamendi, “in principle” exists, although “every day there is more and more interventionism”.