(Adds details on financial results for 2022)
MADRID, Feb 28 (Reuters) - Spain' Ferrovial announced a
plan for a reverse merger on Tuesday under which its
wholly-owned Dutch subsidiary Ferrovial International SE (FISE)
will absorb the engineering company and seek listing in Spain,
the Netherlands and the United States.
FISE will become the main Ferrovial holding company, with
its corporate domicile moving to the Netherlands, Ferrovial said
in a statement, adding that it expected no impact on business,
strategy and day-to-day operations, nor changes in voting rights
or board.
It expects the operation to occur in the second or third
quarter of 2023. Planned dual listing in the Netherlands and
Spain should facilitate subsequent application for listing in
the U.S. market.
The construction conglomerate made the announcement on
the same day it presented 2022 earnings, which showed 88% of its
7.55 billion euros ($8.01 billion) in revenues came from outside
of Spain, while it saw better opportunities for its motorway and
airport concessions in the United States.
The sales rose 4.2% from 2021 helped by a strong
performance of its toll road division, mainly in the United
States.
Ferrovial booked a profit of 186 million euros in 2022,
84% lower than a year earlier, which it attributed to higher
one-off gains in 2021.
($1 = 0.9429 euros)
(Reporting by Corina Pons, editing by Andrei Khalip)
