PreZero International GmbH agreed to acquire Ferrovial's environmental services business in Spain and Portugal from Ferrovial, S.A. (BME:FER) for an enterprise value of €1.1 billion on July 27, 2021. The consideration include capital and debt. Ferrovial's Environmental Services business reported in 2020, €1,018 million in revenue, €130 million in EBITDA. Final completion of the deal is subject to customary closing conditions, regulatory approvals and obtaining clearance from the European Commission. As of October 26, 2021, the European Commission approved the transaction. The transaction is expected to close in second half of 2021.


Morgan Stanley (NYSE:MS) acted as financial advisor to Ferrovial, S.A. (BME:FER) in the transaction. Gerald Reger, Susanne Rummel,Maurice Séché, Carsten Heinz, Moritz Nikolaus Koch, Patrick Neidinger, Falk Osterloh, Martin Schorn and Stefan Schwab of Noerr LLP,Ludomir Biedecki of Noerr Biedecki sp.k, Javier Carvajal García-Valdecasas and Fernando Quicios of Pérez-Llorca Abogados, S.L.P. y CÍA, S.Com.P.; Paulo Trindade Costa of Vieira de Almeida & Associados – Sociedade de Advogados, RL and Richard Spink of Burges Salmon acted as legal advisor to Schwarz Group. Rafael Nuñez- Lagos, Juan Martín Perrotto, Elizabeth Torrecillas, Joana Torres Ereio, David López Pombo, Tomás Arranz, David López Pombo, Álvaro Navarro of Uría Menéndez Abogados, S.L.P. acted as legal advisor to Ferrovial, S.A. (BME:FER) in the transaction.