Ferrovial has reached an agreement to sell its Infrastructure Services business in Spain to Portobello Capital as part of the divestment of Ferrovial Services. The deal, which covers the infrastructure maintenance and upkeep and the facility management businesses, represents an enterprise value of approximately EUR 186 million and the implied equity value at December 2021 is estimated to be around EUR 171 million. The price will be supplemented by earn-outs of around EUR 50 million, based on compliance with certain requirements following completion of the transaction.On the sale completion date, Ferrovial will acquire a 24.99% stake in the acquiring company. The investment amounts to approximately €20 million, depending on the final price to be paid by the buyer. Completion of the deal, expected to take place in the first quarter of 2022, according to the business plan if certain requirements are met after the closing of the transaction.