ACS formally begins process of selling services subsidiary Clece, valued at up to €700 M

ACS novisimo

Link Securities| ACS (ACS) has formally started the sale process of its services subsidiary Clece. The banks that the group has hired to lead the divestment, Bank of America (BofA) and Société Générale, distributed the sale booklet (infomemo) among potential buyers last week, according to market sources and as reported by the digital newspaper

Among the recipients are both funds and industrial groups specialising in service activities. The transaction is valued in the market at around €600-700 million, although depending on the recurring perimeter included, it could be less than these amounts.

On the other hand, the finance and economics daily Expansión reports today that the Sydney Metro, which which is looking at making investments of more than AU$40 billion (around €25 billion), has just made the selection of finalists to complete the construction of five new stations to the west of the city, install the superstructure, contract the trains and operate the Sydney West line for the next 15 years. ACS, through subsidiaries of Australia’s Cimic, has been pre-qualified to participate in the new packages for a project with an investment budget of more than €7 billion.

About the Author

The Corner
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.