Ferrovial hires KPMG to carry out due diligence on Ferrovial Servicios - report (translated)
11 DEC 2018
Grupo Ferrovial [BME:FER], the listed Spanish infrastructure and construction group, has appointed KPMG to carry out due diligence on the sale of its services division Ferrovial Servicios, Cinco Dias reported citing unspecified reliable sources.
The division could be sold in parts, according to the report.
Goldman Sachs has been sounding out the market about the sale and the two advisers may work together on the divestiture, Cinco Dias said.
Ferrovial Servicios is reportedly valued at approximately EUR 3bn, the Spanish-language paper noted. In 2017, it posted revenues of EUR 7bn — about 57% of the group’s total sales — and EBITDA of EUR 423m.
Financial sources told Expansion that some funds have told Ferrovial they would prefer a sale in blocks, as it allows them to acquire the assets that best match their interests, according to a previous report.