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Image: Ferrovial
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In a strategic partnership, Ferrovial and Interogo Holding, through its infrastructure investment arm Inter Infrastructure Capital (IIC), have launched a new joint venture, Umbrella Roads BV, to manage Ferrovial’s stakes in key road and parking concessions across Spain, Scotland, Ireland, and Canada. The venture will centralize Ferrovial's economic rights in these assets, operating under availability payment models or with minimal traffic risk.
Ferrovial, a leading global infrastructure operator, will transfer economic rights while retaining a majority of the voting rights through its toll road division, Cintra. Cintra will oversee operations for the assets under a service agreement with Umbrella Roads BV. This partnership may also open doors for further collaboration between Ferrovial and Interogo Holding in the future.
The joint venture includes notable road assets such as the M3 Eurolink and M4 Eurolink motorways in Ireland, the M8-M73-M74 motorway in Scotland, the 407 East Extension Phases 1 and 2 in Canada, and Serrano Park in Spain. Additionally, economic rights in Spain’s Autovía de la Plata (A-66) will be part of the transfer.
The transaction, valued at 100 million euros, is not expected to generate significant capital gain but signifies a substantial alignment of interests between Ferrovial and Interogo Holding in the infrastructure sector, marking a potential for future joint ventures in infrastructure investment.
