• TRM (USD/COP)COP 3,235.59 +1.65% +COP 52.60Colombia's official exchange rate (Financial Superintendence), valid Nov 4 to Nov 4
  • EuroCOP 3,617.08 +1.72% +COP 61.02Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
  • Mexican pesoCOP 173.98 +3.35% +COP 5.64Reference: TRM crossed with the European Central Bank rate of Nov 3; not the market quote
Quilla NewsFinance & Technology
ENES

Ferrovial makes a high-stakes bet in the US with I-24 as its shares fall nearly 20%

FinanceInternationalEL PAÍS45 s readAI summary
Image: EL PAÍS

The DriveTN consortium, led by Ferrovial alongside Transurban and Tikehau, won in August the contract to build and operate for 50 years two tolled lanes in each direction along 42 kilometers of I-24, between Nashville and Murfreesboro. The work will cost 9.2 billion dollars and the consortium offered Tennessee a concession value of 24.8 billion, compared with bids from Sacyr and ACS of around 7 billion. The share went from about 55 euros before the award to 44.18 on Friday, nearly 20% lower.

In 45 seconds

  • DriveTN, led by Ferrovial, was awarded the I-24 in Tennessee in August: 42 kilometers of toll road and 50 years of operation.
  • The work will cost 9.2 billion dollars and the consortium offered a concession value of 24.8 billion, versus around 7 billion from Sacyr and ACS.
  • The share fell from about 55 euros to 44.18, nearly 20%, and JPMorgan cut its rating to "neutral".
Read the full story at EL PAÍS

IASummary generated by artificial intelligence from a story by EL PAÍS. It may contain errors: the original source prevails.

Comments

Be respectful. Comments reported by several people are hidden until a moderator reviews them.

You do not need an account to read, only to comment. Sign in with a code sent to your email or with your Google account. We only show the name you choose, never your email.

    Keep reading