Acciona will pay Globalvía for the arbitrage in Chile; the initial claim was for €128 M, but the figure could be a lot lower

AccionaAcciona wins two contracts for Palma Airport

Banc Sabadell | Acciona (ANA) and Globalvía have agreed that the former should pay Globalvía for the arbitrage which is open in relation to the Chilean motorway Ruta 160 (which the latter bought in from the former in 2017), according to the media.

Although there are no details on the final price to be paid, Globalvía’s initial claim was for 128 million euros (~1% of Acciona’s capitalisation). That said, it is mooted by the media that the price could be significantly lower.

Valuation:

A negative piece of news, although with a limited impact. In the worst case scenario (that the full amount asked for by Globalvía will be paid out), the effect on the Target Price would be ~-1%. 

Acciona: Buy (Target Price under review).