Spanish construction group Ferrovial wants to move its headquarters to the Netherlands

Spanish construction group Ferrovial wants to move its headquarters to the Netherlands

Spanish construction company Ferrovial wants to move its headquarters to the Netherlands because of the favorable business environment. Ferrovial is one of the largest construction companies in Spain with a turnover of 7.5 billion euros. More than 63,000 employees worldwide are on the payroll.

The Spanish government describes the decision as “ungrateful”. He does not have good relations with the business world, although he does his best to attract business people. Inflationary minimum wages, additional taxes and criticism of the economy could discredit the government among Spanish companies.

Ferrovial is headed by one of Spain’s richest men: Rafael del Pino. The CEO is the founder’s son and has assets of 4 billion euros.

Netherlands stable and right choice

The Dutchman is seen as the ‘right choice’ due to his triple A grade and clear laws and regulations. The move also brings 40 million euros in tax benefits, according to an analysis by Spanish bank Sabadell.

Ferrovial still needs shareholder approval and is targeting a move in the second or third quarter of this year. The 63,000 employees shouldn’t notice anything about the move.

Source: NOS

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