Ferrovial has completed the sale of Broadspectrum to Ventia for AUD 465 million (US$ 319 million). The deal is part of the divestment of Ferrovial’s services subsidiary that commenced in February 2019 and comprises the Broadspectrum businesses in Australia and New Zealand. The figure does not include Ferrovial’s 50% stake in a joint venture with a local partner, for which there is an irrevocable purchase offer issued by Ventia amounting EUR 12 million (US$ 582.11 million)

The deal was completed after receiving approval from regulators and competition authorities.

Broadspectrum and Ventia are highly complementary businesses. Ventia is a specialist infrastructure services provider in Australia and New Zealand.