MADRID (dpa-AFX) - Ferrovial has reached an agreement to acquire up to a 5.06% stake in 407 ETR from AtkinsRéalis for approximately C$2.09 billion. Highway 407 ETR is a 108 kilometer, all-electronic, open-access toll highway located in the Greater Toronto Area in Ontario, Canada. With the transaction, Ferrovial would increase its ownership in 407 ETR to 48.29%.
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 transactions are expected to be completed during the second quarter of 2025.
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