ACS

ACS sells 2,930 GW of photovoltaic projects to Galp as Cimic means loss of € 400M

ACS Sells 74% Of Its Six ‘Shadow Toll’ Motorways In Spain For €950 M

ACS has closed the sale of 74% of its stake in a batch of six tranches of ‘shadow toll’ highways in Spain to the Hermes fund. The operation was agreed last November and will generate a capital gain of 40 million euros for the infrastructure firm. The group will keep the remaining 26% of its share in the highways, which it will also continue to manage. Their total and joint value amounts to 950 million euros.



ACS

ACS cash flow profile is now more resistant

Santander Corporate & Investment | We reiterate our recommendation to Buy after revising our model with the aim of including the performance in the first quarter of 2019 and recent tendencies. We have lowered our new objective price (OP) for the close of 2019 from 4.7€/share to 42.5€/share mainly because the valuation at market prices of CIMIC (without recommendation) in our model.


ACS

ACS: Underweight pending reinvestment of excess capital

Morgan Stanley | ACS (ACS) continues to reduce its risk profile following the purchase of Abertis and its exposure to assets. This is already discounted in the price. in addition it remains without control over the cash flow of its most important assets (Abertis; ACS/Hochtief/Cimic).





Spanish consumers are paying the failure of Castor gas project

The Castor Project; Spaniards Are Paying For The Failure Of This Gas Storage Installation

The Constitutional Court has declared null and void the agreement reached by the Spanish government in 2014 to resolve the problem of the Castor gas storage warehouse, the biggest in Spain, and the subsequent controversial €1.350 billion compensation given to the concessionary firm Escal (in which ACS has 66%). The ruling also says the compensation system set up allowing Enagás to charge consumers for the cost of Castor via their gas bill is illegal.