Alphavalue/DIVACONS | As we have already highlighted, ACS (ACS) is reportedly negotiating to allow Blackrock-owned GIP (Global Infrastructure Partners) to enter its data centre and energy platform. GIP could take a stake of around 50%, which could be valued at more than €1 billion. ACS shares rose 1.68% on Friday.
Link Securities | The Australian Government has commissioned ACS (ACS) to carry out modernisation works at the Townsville military base in the State of Queensland (Australia), according to Expansión newspaper. ACS, through its subsidiary CPB Contractors, is responsible for the design and construction of the new infrastructure to house the Royal Australian Air Force’s (RAAF) new fleet of Apache helicopters, within facilities covering an area of 900 hectares in the…
Link Securities | ACS (ACS) is moving forward with the sale of its train business in Australia, which it operates through UGL, a subsidiary of Cimic, according to the newspaper Expansión. The Spanish company, which has hired the services of Macquarie to carry out the divestment, has already received non-binding offers for a business that generates revenues of around A$1.9 billion (around €1.067 billion) per year, with a pending portfolio…
Alphavaue / Divacons | The Spanish construction company has hired an international consulting firm to design a reorganisation that could cut head office expenses by up to 30%. For years, ACS and its German subsidiary Hochtief have maintained high administrative costs compared to their profits, leading investors to apply discounts when valuing the group. Management is now seeking a more agile configuration to deal with global uncertainty, although the share…
Alphavalue / Divacons | The Spanish construction company and Herzog have been selected for the pre-construction services phase of the LA Metro Southeast Gateway Line project. The goal is to relocate heavy freight rail lines and congested utilities. This project, valued at over $500 million, will usher in a new phase that will bring light rail along a 23-kilometre corridor in southeast Los Angeles County. The pre-construction contract, valued at…
Link Securities | ACS (ACS), through its US subsidiary Turner Construction Company, has announced that it has been selected to build a 46-storey commercial office tower at 343 Madison Avenue in downtown Manhattan, according to the financial website Bolsamanía. The project will include an underground entrance to public transport serving Grand Central Terminal, further improving connectivity in one of New York City’s busiest transport hubs,” the company explained in a…
Intermoney | ACS (Buy, PO €63) announced last Friday after the market closed that it had reached an agreement with French company Vinci to dissolve their joint venture for the development of renewable energy capacity. This JV arose from the French company’s purchase of ACS’s Cobra industrial services business for around €5 billion, announced in 2021. Friday’s agreement specifies a final payment by Vinci of around €300 million, which, according…
Intermoney | ACS (ACS) (Buy, Target Price €63) has, through its US subsidiary Turner, secured a contract with US AI giant CoreWeave to build a data centre complex in the state of Pennsylvania, involving a total investment of around €5.2 billion, according to Expansión newspaper. Turner is partnering with local company Wohlsen on this contract. The two partners will build a facility with an initial capacity of 100 MW, expandable…
Intermoney | The Spanish multinational (Buy, PO 63€), through its subsidiary FlatironDragados, has been awarded a contract in the US to build new railway tracks in the state of Virginia for around €355 million, according to Expansión. ACS has won this contract in a consortium with the local company Herzog. The works will be carried out on the Franconia-Springfield bypass starting this month and will be completed in 2029. The…
Norbolsa | The government will return 1,000 kilometres of toll motorways to public management in December 2025, after 19 years under private concession. Construction companies such as ACS, Ferrovial and Acciona face potential additional costs of up to €500 million to comply with the standards required by the Ministry. In principle, the government should deliver the reports to the concession companies with the action plan this month, and the companies…