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Spain's Ferrovial mulls sale and leaseback of HQ

Source: Reuters - Tue 29th Sep 2009

Spanish construction-to-services group Ferrovial said on Tuesday it had received various offers for its Madrid headquarters on a sale and leaseback arrangement.

The firm was considering the offers for the headquarters in Principe de Vergara, said a spokesman.

"Our core business is not property" he said.

A source close to the deal said Ferrovial wanted about 43 million euros for the building.

A number of Spanish companies, including banks Santander, BBVA and Pastor, have sold buildings to raise liquidity, leasing them from the buyer.

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