Schwarz-backed PreZero completed the acquisition of the environmental services business in Spain and Portugal from Ferrovial for $1.34bn.

Schwarz-backed PreZero, an environmental division, completed the acquisition of the environmental services business in Spain and Portugal from Ferrovial, an infrastructure operator and municipal services company, for $1.34bn. “This deal is consistent with Ferrovial’s strategic roadmap, which is focused on developing sustainable infrastructure. New technology, changes in citizens’ habits, and the demands of society make it necessary to adopt this approach to continue creating value for our shareholders, our stakeholders, and the communities in which we operate. We are also very pleased to leave our Environmental Services business in Spain and Portugal in the hands of PreZero, an international enterprise in waste and recycling management with the highest ESG standards," Ignacio Madridejos, Ferrovial CEO.