“Construction Europe” reports, “The Cintra subsidiary of Spanish contractor Ferrovial has agreed to sell a €447 million [approximately US$502 million] stake in two toll roads to French investment and asset management firm Meridiam. The Spanish company said that in doing so, it will gain €474 million in capital, thanks to the divestment of the 65% stake in the Ausol I and Ausol II toll road concessions in Malaga, Spain. Ferrovial said the capital will be used to deconsolidate the gross debt of the project, which amounts to €603 million (€542 million net debt).”
