Press "Enter" to skip to content

Vinci acquires the industrial subsidiary of ACS for 4.9 billion euros

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)

Read more

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *