ACS

ACS Vinci

ACS wins one of three lots of Vancouver elevated train contract, with investment of close on €2,850 M

Intermoney| ACS (ACS) (Buy, PO 43 €) has been awarded one of the three lots in which the future Vancouver elevated train is divided, an initiative that will mobilise a total investment of C$4,200 million, some €2,850 million, according to Expansión. The Spanish multinational is participating in the project through Dragados, which has teamed up with Lecor, Systra and IBI. ACS won this first bid against the consortium of Acciona,…


ACS novisimo

ACS wins new contracts for €400 million in several ports in the USA and the UK

Intermoney: The daily newspaper Expansión reports today that ACS (Buy, PO 43) has been awarded several construction contracts in the US and UK for a total of approximately construction contracts in the US and the UK for a total of approximately €400 M€. Thus, the Group has been the preferred bidder for a contract worth some £100 million ( €117 million) at the port of Immingham, the UK’s main port…


ACS novisimo

French motorway tax could affect Abertis dividend, around €300m for ACS

Banc Sabadell| The new motorway tax in France, whose impact would be ~-€85m on Abertis (~2% of its EBITDA 2023e; ACS’ 45% stake in Abertis net of minority interests), could have an impact on a future review of Abertis’ rating unless corrective measures such as a dividend cut are taken, following comments by S&P in a recent report, according to press reports. In this regard, Abertis plans to pay out…


ACS new

ACS looks to make over €2bn from sale of UK offshore wind farm and services subsidiary Clece

Link Securities| ACS is looking to find buyers for a number of the construction company’s assets before passing the rating agencies’ solvency exam, according to the digital portal ElConfidencial.com. According to several sources in the sector, the construction company wants to divest an offshore wind farm in the UK and Clece, its services subsidiary, transactions for which it can earn more than €2 billion.


ACS new

ACS to replace two bridges managed by Amtrak rail transport network in Northeast corridor of US for €1.37 billion

Norbolsa| ACS has been contracted to replace two key bridges in the Northeast US rail corridor operated by Amtrak, the country’s largest transportation operator and manager. The Spanish group, associated with the local firm Herzog, and through its subsidiary Flatiron, will be in charge of replacing the two bridges on the Susquehanna River Rail Bridge (Maryland, USA), with an investment budget of $1.5 billion (around €1.37 billion). The project will…


ACS novisimo

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

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 elEconomista.es. Among the recipients are both funds and industrial groups specialising in service activities. The transaction…


acciona tunel

ACS and Acciona enter consortium to build several tunnels in Melbourne in €2.204 billion contract

Link Securities | A consortium formed by ACS (ACS) (through Cimic’s CPB Contractors), Acciona (ANA) and Italy’s Ghella, will build several tunnels for the Suburban Rail Loop East rail project in the Australian city of Melbourne, according to the newspaper Expansión. CPB, an Australian company owned by Cimic (controlled by ACS), has a 40% stake in this contract, valued at AU$3.6 billion (about €2.204 billion). The contract awarded to this…


ACS Vinci

Texas compensates ACS $380 million for Harbour Bridge cost overruns

The Texas Department of Transportation (USA) and ACS have reached an amicable settlement to close years of confrontation in the courts over the construction of the Harbour Bridge over the port of Corpus Christi (Texas), the largest in the USA in terms of tons handled. According to local authorities, the consortium formed by Dragados and Flatiron will be compensated with $380 million (about €380 million) for cost overruns incurred on…


ACS novisimo

Audiencia Nacional sentences Escal – 67% ACS owned – to repay €210 million for Castor project

Banc Sabadell : On 5 July, the Audiencia Nacional (Spain’s High Court) dismissed the appeal lodged by Escal UGS -the company that developed the Castor project, 67% owned by ACS) against the repayment of €210 million to the gas system (initial €195 million + interest generated-, for the settlements received in relation to the Castor project, according to press reports. Assessment: News with a negative bias, although with limited impact…


acsCM

ACS wins €600 million expansion of New York hospital to be completed by 2027

Intermoney| The company, through its US subsidiary Turner, has been awarded the contract for the expansion of a hospital in the city of Rochester, located in the state of New York, according to Cinco Días newspaper. This initiative has a planned investment of €600 million. The ACS firm will undertake the hospital refurbishment works in consortium with Pike Construction Services; Ballinger is in charge of the design work and Hammes…