FCC and Bankia have executed the sale of 100% of the infrastructure development company Globalvia to pension funds USS, OPTrust and PGGM. The agreement, between the different parts involved, was revealed and published by InfraPPP in October 2015.

Globalvia, which was 50/50 owned by FCC and Bankia, is one of the world's leading companies in the management of infrastructure assets.

Globalvia's portfolio boasts a high degree of product diversify and includes a significant number of assets. The firm's portfolio is composed by 19 highways, 8 railways, one airport, two hospitals and two ports in seven countries: Spain, Ireland, Portugal, Andorra, Mexico, Costa Rica and Chile.

Under the terms of the agreement USS, OPTrust and PGGM will pay up to €420 million (US$463.4). The execution of the sale comes after the funds have exercised their preferential purchase right as holders of a €750 million bond that is convertible into the company's shares.

The agreement is structured into an initial payment of €166 million, to be paid when the shares are actually transferred, plus a deferred payment to be made in the first six months of 2017, which could total up to €254 million depending on the company's valuation at the time of the bond conversion.