Ferrovial strengthens US exposure with stake pick-up

Spanish giant Ferrovial has increased its stake in the North Carolina I-77 concession.

The firm added a further 7.1% share in the project, bringing its total to 72.2%.

It picked up the stake from Abrdn, which is retaining a further 3.1% share. John Laing owns the remaining 24.5%.

Completed in 2019, the concession covered 41.8km of major highway managed lanes in the state, with the contract running until 2069.

Ferrovial said the deal is an example of it “strengthening its investment exposure to the US”.