ACS

In Europe 30th August 2024

ACS now controls 79.1% of German construction company Hochtief after investing €50m 1Q24

Link Securities | The company continues to consolidate its shareholding position in the German construction company Hochtief, increasing its control position thanks to the purchase of shares in the subsidiary and thus approaching the threshold of 80% of the German company’s capital. Specifically, and as reported yesterday by the newspaper Expansión, ACS already controls 79.1% of the German construction company after the latest financial investments made. In this regard, Expansión…

Companies, Ibex 26th August 2024

Texas Department of Transportation buys back SH-288 toll road from Abertis and ACS

Santander | In a significant event, Abertis (BBB- e, BBB e) has announced that the Texas Department of Transportation (TxDOT) has decided to proceed with the repurchase of the SH-288 toll road in Texas, which has been owned by ACS Group and Abertis since November 2020. TxDOT will make a payment of $1.732bn, of which $520mn will be used to repay debt associated with the project, while Abertis will receive…

Companies, Ibex 20th August 2024

ACS and Acciona win motorway in US for almost €10 billion

Intermoney | ACS (Buy, PO 46 €) and Acciona (Buy, PO 200 €) have been awarded, together with the Meridian fund, the SR400 toll road, which will be located in the vicinity of Atlanta (United States), according to the newspaper El Confidencial. With an investment of approximately €9.8 billion, the project has a construction period of approximately 5.5 years with an operation and maintenance period of a further 50 years….

Companies, Ibex, Relevant News Item 13th August 2024

ACS selected to build Atlanta Airport Automated Transit Network Project

Link Securities | ACS (ACS), through ACS Infra (Iridium) and Flatiron-Dragados announced that it has been selected by the Atlanta Airport Community Improvement Districts (AACID) to design, build, finance, operate and maintain the Automated Transit Network (ATN) Project that will improve connections at the world’s busiest airport. No financial details of the contract have been disclosed, according to Cinco Días newspaper on Monday. This pilot project extends approximately 800 metres…

Relevant News Item 2nd August 2024

Texas nationalizes ACS’s highway in exchange for payment of €1,606 million

The Texas Department of Transportation has approved the acquisition from ACS of its SH-288 highway, a nationalization available in the contract between both parties that will be compensated with a maximum of €1,606 million ($1,731 million) to be paid to the Spanish construction company before October 8, 2024. The Texan administration made the decision this Tuesday, according to documentation consulted by Europa Press, so that it will grant its public…

World economy 19th July 2024

ACS wins 3-year €137.5 million open pit mining contract in Canada

Intermoney | ACS (Buy, PO 46), through its subsidiary Thiess, itself part of Cimic, has won a mining services contract for an open pit project in Ontario (Canada) for a period of three years worth €137.5 million. The contract is with Vale, one of the world’s largest integrated mining companies, specialising in iron and nickel, headquartered in Rio de Janeiro, Brazil and employing around 125,000 people in more than 30…

World economy 11th April 2024

ACS to refurbish hospital in Australia through subsidiary Cimic in deal worth €450M

Intermoney | ACS (ACS), through its Australian subsidiary Cimic, has been awarded a contract to refurbish a hospital in the state of New South Wales. The works will involve an investment of €450 million. The work will begin this year and will last until 2028. It will include the refurbishment of numerous departments of the hospital, as well as the construction of new facilities, including the vertical expansion of existing…

World economy 2nd April 2024

ACS: Texas could terminate SH-288 motorway concession early and compensate company with €1,600 M

Bankinter| The State of Texas could make use of its contractual right to claim the return of the SH-288 toll road to the amount of $1,731M (about €1,600M) currently controlled 43.24% by ACS and the remaining 56.76% by Abertis. Last Thursday, the state transport commission gave its approval to the plan and a six-month negotiation period is now open to either terminate the contract or avoid it. Bankinter’s analysis team’s…

Spanish economy 11th March 2024

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,…

World economy 5th February 2024

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…

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