The Government conveys its "respect" to Ferrovial's decision and assures that it works to attract investment

Insists that companies listed in Spain can be listed on the North American stock market if they so request

MADRID, 13 Abr. (EUROPA PRESS) -

The Government has conveyed its respect for the decision adopted this Thursday by Ferrovial shareholders at the general meeting to move the company's headquarters to the Netherlands and has assured that it is working to attract investment and encourage companies in Spain to grow, create employment and access financial markets from the country "in the best possible conditions".

With a quorum of 77.6%, the Ferrovial board has given the 'green light' to the operation by which the Spanish parent company will merge with its Dutch subsidiary, the result of which will create a new firm based in that country and which will mean that the multinational ceases to be Spanish.

After knowing the result, from the Ministry of Economic Affairs they have transferred their respect for the decision of the shareholders, although they have maintained the argument that companies listed in Spain can be listed on the North American stock market if they so request.

"As has become clear from the analysis of the stock market supervisor (CNMV) and Bolsas y Mercados Españoles (BME), companies listed in Spain can be listed on the North American stock market if they so request, since there are no legal obstacles, regulations or operations that prevent it", have remarked from the Department directed by Nadia Calviño.

Economic Affairs highlighted that all national and international forecasts point to economic growth in Spain this year that is almost double the European average and that of the main economies in the Eurozone.

In addition, he has highlighted the fact that Spain is a competitive country, which attracts talent and investment, indicating that in 2022 foreign investment exceeded 34,178 million euros, the second best year in history.

"We are going to continue working constructively with all Spanish companies to defend their interests and promote their expansion and growth", they remark from the Executive.

In any case, the door is still open for a part of the percentage of Ferrovial shareholders who have voted against, yet to be known, to exercise their right of separation, that is, to sell their shares to the company due to their opposition to the run that move.

If only 2.56% of the shareholders exercise it within a month from this Thursday, the operation will not go ahead, since the consideration to be paid by Ferrovial will exceed the limit of 500 million that it set in the terms of the operation.

If no one exercises that right, or at least that percentage is not reached, this will close a period of more than a month and a half of tensions between the Spanish Government and the company, after the former conveyed its disagreement with the operation and the second defended the right to undertake a cross-border merger, in this case with a European country.

The only fringe open now will be the fiscal cost of this operation, that is, the taxes to be paid for the transfer. The Government has already warned the company that if the Tax Agency does not find economic (but fiscal) reasons to carry out the operation, it will not be exempt from the tax advantages that apply in these cases.