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Brexit drives Ferrovial to move office overseas

Spanish infrastructure giant Ferrovial has revealed plans to move its international office out of the UK due to Brexit concerns.

Ferrovial, which also owns Amey, confirmed it had begun the process to move its international division’s office from Oxford to Amsterdam.

The company said the move aimed to ensure it stayed within EU legislation after the UK leaves the union.

Ferrovial currently runs its US, Canadian, Polish and UK operations from the Oxford base.

A spokesman for the company said: “Ferrovial has decided [to relocate] the corporate registered office of holding companies of international businesses, currently in the UK, to a jurisdiction (Amsterdam) which is under the umbrella of European Union law.”

The spokesman added that there would be no impact on employment, and its operations in the UK would remain unchanged.

The Spanish giant is Heathrow’s biggest shareholder, owning around 25 per cent of the west London airport.

In contracting, it is currently working on HS2’s central enabling works package in joint venture alongside Bam Nuttall and Morgan Sindall. 

Ferrovial is the latest major international company to look at moving parts of its business overseas over Brexit fears.

Plane manufacturer Airbus, which employs 14,000 people in the UK, revealed last week that it was considering moving its wing manufacturing base to the continent.

Last year, Ferrovial chairman Rafael del Pino said the company would halt any merger and acquisition deals in the UK due to uncertainty over Britain leaving the EU. The UK currently accounts for around 30 per cent of Ferrovial’s revenue.

In addition to its work on HS2, Ferrovial was also one of the key contractors on Crossrail, delivering £676.9m of work for the London rail project.

The company’s Cintra subsidiary is also bidding against Hochtief for deal to design, build and maintain the £1bn Silvertown Tunnel project in east London.

This week’s announcement comes just a day after MPs voted in favour of expansion at Heathrow.

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