Spanish infrastructure giant Ferrovial Agroman has bought Polish railway infrastructure firm Przedsiebiorstwo Napraw Infrastruktury (PNI) for €56M (£49.5M).
Ferrovial, which also owns UK airport operator BAA, made the purchase through its Polish subsidiary Budimex. The acquisition, which commenced in October 2010 when the Polish government announced plans to privatise the company, is expected to close in October, following approval by the Polish competition authorities.
Revenues in 2010 totaled £124M. “PNI provides notable synergies with Budimex and this acquisition will allow us to seize attractive business opportunities in Poland, a country with great growth potential,” said Ferrovial chief executive Alejandro de la Joya.
PNI’s most important contracts include refurbishing the Danzig station, rebuilding the Hrubieszów station and upgrading the railway between Krakow and Rzeszów. The company has also upgraded the railway lines between the following cities: Sulechów-Luboń, Bednary-Zgierz and Goleniów-Kołobrzeg, among others.