FCC and Bankia agree to sell Globalvia to the Malaysian Khazanah Nasional Berhad fund for €420 million

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06/07/2015

FCC and Bankia agree to sell Globalvia to the Malaysian Khazanah Nasional Berhad fund for €420 million

FCC and Bankia have reached an agreement with the strategic investment fund of the Government of Malaysia, Khazanah Nasional Berhad, for the sale of 100% of Globalvia Infraestructuras assets for an amount that could reach €420 million.

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FCC and Bankia agree to sell Globalvia to the Malaysian Khazanah Nasional Berhad fund for €420 million

The two companies are equal proprietors of the consortium, holding 50% each. The agreement is organised into one payment of €166 million that could increase to €254 million, including the interests which correspond to this deferral.

The transaction is subject to a set of conditions precedent, including obtaining certain consents and authorisations from third parties, as well as from the current bondholders of €750 million: USS, OPTrust y PGGM. The sale of Globalvia has had financial advice from JPMorgan and Macquarie, and legal advice from Hogan Lovells.

This operation forms part of the set of divestments included in the Strategic Plan implemented by the Citizen Services Group which has led to a revenue of close to €2 billion.

Globalvia is one of the world leaders in the management of infrastructure concessions; it holds one of the top places for the number of concessions, according to the ranking of infrastructure specialist publications.

The company, which formed in 2007, manages 31 projects in 7 countries, which include motorways, railways, hospitals and ports.

The strategic aim of Globalvia is to create value for shareholders by means of managing their asset portfolio for the purpose of serving as a benchmark in the infrastructure management market. Its target markets are OECD countries with a special emphasis in Spain, the European Union and North America.