Link Securities| ACS is negotiating with Elliott the purchase of 50% of the mining company Thiess, the newspaper Expansión highlights in today’s edition. The investment fund has, from 2024, the right to resell half of the subsidiary of Cimic, ACS’s Australian subsidiary, for which it paid some €1.13 billion in 2020. There is also the option of an IPO of Thiess. Under the shareholders’ agreements, ACS is obliged to buy…
Intermoney| ACS (ACS) (Buy, Target Price €40/share), through its US subsidiary Turner, is part of the TBA consortium, which has been awarded the construction of the new stadium for the Tennessee Titans football team in Nashville. This will involve an investment of $2.7 billion and will be located on the banks of the Mississippi River, next to the current stadium, according to Cinco Días newspaper on Friday. Other members of…
Intermoney| ACS (ACS) (Buy, Target Price €40/share), through its North American subsidiary Turner, has been awarded a €353-million contract to upgrade the infrastructure of Offutt Air Force Base, in Nebraska. The work is aimed at improving the infrastructure at Offutt Air Force Base, located near Omaha in the state of Nebraska, in preparation for future flooding, after the facility suffered a flooding catastrophe in March 2019. A number of units…
Intermoney| ACS, through Dragados, in alliance with the Ledcor group, has won the initial works to extend services on the Ontario commuter line (Go Line). The contractors will work on the nearly 20-kilometre Lakeshore East line in the town of Bowmanville. The work includes seven new bridges and grade crossing improvements. Ontario has committed C$730 (about €500 million) to this rail extension. The investment in the Go Line amounts to…
The Spanish group leads a joint venture selected to replace dry dock number 3. The initial scope of the award is $2.839 billion (about €2.665 billion). It may, however, go further. ACS has been awarded this important contract by the US Navy through its construction company Dragados USA and teaming up with local firms Hawaiian Dredging and Orion. The work will take place at the Joint Base Pearl Harbor-Hickam and…
Link Securities | According to the daily laInformacion.com, Adif Alta Velocidad has awarded the joint venture formed by ACS, Rover and Tecsa the contract to execute the works in the plans for the construction of the new access channel to integrate the high-speed railway in Valencia. Also to extend and remodel the Joaquín Sorolla station and increase its parking area.ç The contract is worth 443,4 million euros, VAT included. It…
Link Securities | The alliance of ACS and Acciona is going up against FCC in one of the biggest tenders there are currently in the UK: the remodelling of the Haweswater Aqueduct, located in the north east of England, according to elEconomista.es. The Spanish firms form part of the terna selected by the UK water company United Utilities to bid for the contract for the design, construction, financing and maintainenance,…
Bankinter | ACS has won a contract to build a factory for electric car batteries for Ascende Elements, with a budget close to $1 billion. This contract is the second one that ACS’ US subsidiary Turner has won this year in the electric batteries market. Bankinter analyst team’s view: This is positive news for ACS which continues to show how strong its business is and the growth capacity of its…
Intermoney | ACS, along with its partners in Atlantia, will tomorrow approve at an EGM a 1 billion euros injection of cash for Abertis. The aim of the move is to provide the concessionary with more ammunition for new investments, according to the daily elEconomista. Meanwhile, the company is also analysing opportunities for refinancing its debt, in the face of rising interest rates. That said, it is still benefiting from…
Link Securities | Asian industrial firms Honda and LG Energy have commissioned the construction company Turner, a subsidiary of ACS, to build a factory for electric vehicle batteries in the county of Fayette, Ohio (US), according to today’s Cinco Dias. The initial budget for the installation is $3.5 billion (some 3.380 billion euros) of the $4.4 billion (some 4.245 billion euros) being considered for the whole initiative. ACS’ partners in…