Ferrovial agrees to acquire up to 5.06% of 407 ETR from AtkinsRealis

Ferrovial (FER) has reached an agreement to acquire up to a 5.06% stake in 407 ETR from AtkinsRealis for approximately C$2.09B. The transaction is structured in two tranches, with 3.30% to be acquired at closing and 1.76% deferred for up to 18 months post-closing through a put and call option agreement. The strike price for the put and call option will be adjusted, based on an agreed formula taking into account when it will be executed. Separate deals have been announced today by which AtkinsRealis would sell its remaining 1.7% stake in 407 ETR to Canada Pension Plan Investment Board (CPP Investments), and Public Sector Pension Investment Board has entered into agreements to acquire a 7.51% interest in 407 ETR from CPP Investments. The transactions are expected to be completed during the second quarter of 2025 and are subject to the closing of CPP Investments’ sale to PSP Investments, as well as other customary closing conditions.