Ferrovial to move international holding from Britain to Netherlands due to Brexit

FILE PHOTO: A welder works at a Ferrovial construction site, of new residential buildings, in Madrid, February 24, 2015. REUTERS/Susana Vera/File Photo

MADRID (Reuters) - Spain's Ferrovial FER.MC plans to move its international holding to Amsterdam from Oxford in Britain to keep the business under European Union legislation after the United Kingdom leaves the bloc, a spokesman said on Tuesday.

“The reason for the move is to maintain the group’s international companies under the umbrella of (EU) communities’ legislation,” the spokesman said, confirming an earlier report in newspaper Expansion.

The holding oversees Ferrovial’s activities outside Spain, including the company which manages its airport interests, including stakes in Heathrow, Glasgow, Aberdeen and Southampton airports.

Other companies under the holding include Cintra, Poland’s Budimex and Australian services group Broadspectrum.

The move would not result in any layoffs at its British operations as it was mostly a change in legal status for the holding company, the spokesman said.

Automaker BMW BMWG.DE said it would close its Mini and Rolls Royce plants in Britain if Brexit disrupts its supply chain, while Siemens SIEGn.DE last week expressed concern over its operations in Britain.

The British government and business leaders have clashed over Brexit planning in recent weeks, with a senior minister on Sunday accusing companies of issuing “completely inappropriate” threats at a critical moment in negotiations.

Reporting by Jose Elias Rodriguez; writing by Paul Day; editing by Jason Neely and Jan Harvey