On June 6, 2025, Ferrovial SE announced its acquisition of an additional 5.06% stake in 407 International Inc. (407), from AtkinsRéalis for approximately $1.99 billion. Ferrovial acquired an initial 3.3% stake on June 6, 2025, and a further 1.76% stake on June 11, 2025, pursuant to a call option. The multi-party transaction also involved the acquisition by CPPIB of an 1.7% stake in 407 from AtkinsRéalis and the acquisition by Public Sector Pension Investment Board of a 7.51% stake in 407 from CPPIB.
407 is the owner of Highway 407 ETR, a 108-kilometre, all-electronic, open-access toll highway located in the Greater Toronto Area in Ontario, Canada. Ferrovial’s investment will increase its total ownership of the highway to 48.29%. Ferrovial, one of the world’s leading infrastructure companies, has been a shareholder of 407 since 1999.
Osler, Hoskin & Harcourt LLP advised Ferrovial SE with a team consisting of Rosalind Hunter, Kai Sheffield, Jessie Armour and Page MacRae (Corporate) and Greg Wiley (Tax).
Key Contact
Partner, Corporate, Toronto
Team
Partner, Corporate, Toronto
Associate, Corporate, Toronto
Associate, Corporate, Toronto
Partner, Tax, Toronto
