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Ferrovial SA announced Tuesday evening that its Polish subsidiary Budimex would sell its real estate division for 331 million euros ($ 401.7 million) to CP Developer.
The Spanish infrastructure company said the divestiture, which follows a strategic review launched last year, is expected to have a positive impact of € 152 million pre-tax on Budimex’s finances.
The transaction is subject to approvals.
CP Developer is controlled by CornerStone Partners LLC and Crestyl Real Estate.
Write to Giulia Petroni at [email protected]
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