Ferrovial is on a shopping spree, starting with the UK and Australia

MADRID -- One of Spain's largest companies, Ferrovial, is a big player on the international business scene, specialising in construction, operations and airport management. Having bought -- not without difficulties from the competition authorities -- the remaining shares in three important British airports (Glasgow, Aberdeen and Southampton, the 8th, 14th and 18th busiest in the UK, respectively) in a 50-50 partnership with the Macquarie Fund earlier this week, it put in a non-binding bid to acquire Transfield Services, an Australian firm. Transfield is in the operation and maintenance services businesses in a list of markets that range from natural resources, transport infrastructure and defence to many others. Ferrovial already had a participation in the three airports and still holds

a healthy part of London's largest airport through Heathrow Airport Holdings (previously BAA, of which Ferrovial had a part). It also has an indirect part of Luton Airport. In 2009 the Del Pino family (owners of Ferrovial) had to divest its holdings in Gatwick and Edinburgh, and one other in England, thanks to a difficult decision by the UK Competition Commission, shares in Heathrow Airport Holdings, of which Ferrovial then held 25%, were sold to Manchester Airports Group. It was also forced to sell Stansted a little later. The present purchasem of the three airports with the Macquarie Fund, is seen as a 'vendetta' in the business.

The Australian bid was not initially approved byTransfield Services shareholders, and one of the clauses in the advisory contract states that Ferrovial can retire from it whenever it likes.

Ferrovial, which employs some 19,000 people worldwide, is known to be looking for similar investment in the US and Canada. It recently opened a toll road in Texas, its second such venture. The Spanish giant made several overseas acquisitions last year, including British maintenance and utility firm Enterprise and a company specialised in the Chilean mining sector, and said in February it had the resources to make new investments.

It is also one of three companies that have had bids accepted to take a stake in Spain's state airport operator Aena. The government hopes to make billions of euros out of that major privatisation.