Ferrovial informs the CNMV that the change of headquarters is to “enhance financing circumstances”

“This decrease volatility ought to imply that, sooner or later, the financing prices of the corporate’s debt points are lowered,” he says. Some workers can be transferred to the Netherlands, albeit voluntarily. “respecting the consolidated rights of employees

The change of Ferrovial’s headquarters to the Netherlands will suggest that sure workers of the Spanish firm transfer to this nation, albeit voluntarily, in addition to completely different relocations between the completely different subsidiaries of the group in Spain.

This is acknowledged within the doc of the widespread merger undertaking between Ferrovial and its Dutch subsidiary Ferrovial International, which the corporate has printed within the National Securities Market Commission (CNMV) simply two days after asserting this operation.

The textual content describes the steps that the corporate will comply with any more to hold out this course of, together with the explanations which have led it to take action, the opportunity of shareholders opposing it and the consequences it’ll have on employment.

On this final level, the doc reiterates that this transformation is not going to have direct penalties for employment in any of the businesses collaborating within the merger and that the adoption of labor measures just isn’t contemplated.

However, it might occur that sure Ferrovial workers voluntarily relocate to the Netherlands or are relocated and turn out to be workers of different Grupo Ferrovial subsidiaries in Spain.

In each circumstances, it will be voluntary transfers or relocations, which might be carried out “respecting the consolidated rights of employees and their working circumstances,” based on the corporate chaired by Rafael del Pino. Likewise, all workers would have the brand new guardian firm, which can be within the Netherlands, as their employer.

“Stability” within the Netherlands

Regarding the explanations for making this switch, he stresses that it’ll enhance financing circumstances, because the Netherlands has “monetary energy and stability”, one thing that gives much less volatility to its financing prices as a result of a “extra secure” threat premium in comparison with different European nations.

“This decrease volatility ought to imply that, sooner or later, financing prices are lowered within the firm’s debt points and, in the long term, additionally in enhancements within the whole price of capital,” he says.

The remainder of the arguments have already been utilized by the corporate, corresponding to its worldwide projection, the larger notoriety for traders from everywhere in the world and the truth that the Netherlands will function an “optimum platform” to record within the United States, certainly one of its most important markets.

“The shares of a Spanish firm listed in Spain can solely be traded within the United States by ‘American Depositary Receipts’ or different oblique formulation that aren’t eligible to entry the US inventory indices,” he explains.