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Ferrovial to move international holding from Britain to Netherlands due to Brexit

Published 26/06/2018, 09:00
© Reuters. Ferrovial Chairman Rafael del Pino speaks during a general shareholders meeting in Madrid
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MADRID (Reuters) - Ferrovial (MC:FER) plans to move its international holding to Amsterdam from Oxford in Britain to keep the business under European Union legislation after the United Kingdom leaves the bloc, a spokesman said on Tuesday.

"The reason for the move is to maintain the group's international companies under the umbrella of (EU) communities' legislation," the spokesman said, confirming an earlier report in newspaper Expansion.

The holding oversees Ferrovial's activities outside of Spain, including its participation in Heathrow Airport, which on Monday was given parliamentary approval to begin construction of a new runway.

Other companies under the holding include Cintra, Poland's Budimex and Australian services group Broadspectrum.

© Reuters. Ferrovial Chairman Rafael del Pino speaks during a general shareholders meeting in Madrid

Automaker BMW (DE:BMWG) said it would close its Mini and Rolls Royce (LON:RR) plants in Britain if Brexit disrupts its supply chain while Siemens (DE:SIEGn) last week expressed concern over its operations in Britain.

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