Link Securities | Cimic, the Australian subsidiary of ACS (ACS), has closed the sale of 50% of UGL Transport to the Japanese group Sojitz Corporation, in a transaction that will allow the company to obtain cash proceeds of approximately AU$500 million (approximately €287 million), according to the Bolsamanía website.
The transaction values UGL Transport at approximately AU$800 million (100%), and Cimic will receive cash proceeds of approximately AU$500 million.
UGL Transport, a division of Cimic UGL, is a leading integrated transport services platform operating in Australia and New Zealand. With estimated revenues of AU$1.1 billion by 2025, UGL Transport is well positioned for continued growth. This alliance marks an important milestone in Cimic’s strategy to generate value and accelerate the growth of its portfolio. Together with Sojitz, UGL Transport will expand its service offering and expand into new markets, including opportunities in Asia-Pacific.
Meanwhile, Expansión reports today that ACS has partnered with specialist engineering firm Amentum to provide services to manufacturer Rolls Royce, which has created a division to market 470 MW mini nuclear power plants in the United Kingdom and subsequently export them to other countries. Through its German subsidiary Hochtief (HOT-DE), the Spanish multinational will support the management of the construction of Rolls Royce SMR projects in the United Kingdom and the European Union (EU).
