Apr 1 (Reuters) – French group Vinci has agreed to buy the industrial division of Spain’s ACS for 4.9 billion euros ($ 5.75 billion) in cash, a figure slightly lower than that offered in October.
Vinci and ACS will also form a joint venture to which will be added all the renewable assets developed by the industrial division that is the object of the operation over the next eight and a half years, both companies said.
Vinci will have a 51% stake in the joint venture, while ACS will own the remaining 49%.
Vinci’s shares rose 3% to 89.9 euros as of 0919 GMT, while ACS shares were flat, having risen 26% with the announcement of the transaction.
In October Vinci made a non-binding offer to buy Cobra, ACS’s industrial unit, for 5.2 billion euros.
(1 dollar = 0.8522 euros)
(Information by Anait Miridzhanian; edited in Spanish by Darío Fernández)