A group of minority shareholders of Spanish toll road developer Cintra are protesting a proposed buyout of their interests by majority shareholder, Spanish infrastructure manager Ferrovial.
The minority shareholders – Britain's Universities Superannuation Scheme (USS), Australia's CP2 Limited and Magellan Asset Management and the State of New Jersey Division of Investment – have submitted a letter to Cintra’s board opposing the deal since it would give them exposure to unwanted business sectors and geographies and higher risks associated with Ferrovial’s highly leveraged balance sheet.
