Ferrovial teams up with IKEA's owners to run roads and parking in Europe and Canada
Spanish construction giant Ferrovial has agreed to transfer some 100 million euros worth of assets in Spain, Scotland, Ireland and Canada to a new joint venture with Interogo Holding, an investment fund of IKEA's owners. Umbrella Roads BV, the new company formed by Ferrovial and Interogo, will manage Ferrovial's stakes in a number of road and parking concessions, including the M3 Eurolink and M4 Eurolink motorways in Ireland and Serrano Park in Madrid. "The partnership between Ferrovial and Interogo could allow for further collaboration between the parties in future," according to a statement published by Ferrovial on its website late on Wednesday.