ACS hikes stake in Texas motorway SH-288 to 78.38%; buys 12% more for €250 M

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Norbolsa | ACS has reached an agreement with Clal Insurance via its subsidiary Iridium for the purchase of an additional 12.11% in the toll motorway concession SH288 in Texas. The cost is approximately 250 million euros.

With this deal, the Spanish group strengthens its position as core shareholder in the motorway, now holding 78.38% of the capital invested in the project. This includes the financing, design, construction and operation of four new toll lanes, the rehabilitation of the pavements and existing junctions and the access to the Texas Medical Center hospital complex.

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The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.