Hochtief has launched a €18.76 cash or share offer on Abertis, raising speculation around a potential price war between Atlantia and Hochtief.
ACS has launched a competing bid for Abertis, via Hochtief, at €18,76 per share. It fits in with our forecast scenario that ACS would offer a higher price than Atlantia (€16,50/share, combining cash and shares which cannot be sold before February 15 2019) in its counter-bid for the Spanish concessionaire.
ACF | In 2014, ACS was the building company which won the most contracts worldwide.
ESSEN | Consolidated net profit amounted to EUR 126.2 million in the first half of 2013. In the prior-year period, substantial impacts on earnings had resulted in a consolidated net loss of EUR 50.6 million.
MADRID | ACS’ subsidiary Hochtief recently won several contracts: road maintenance in Auckland, redevelopment of air force base in Pearce and the Olgana und Hilliana hotel towers project in Jumeirah.
MADRID | Grupo ACS said Tuesday that the company recorded a net profit in the first quarter of 2012 of €207 million. The Spanish firm published its consolidated results today, showing that net sales of ACS in the first quarter of 2012 totaled €9,035 million, 144.8% more than last year. Growth in comparable terms, also considering the sales of Hochtief in the first quarter of 2011, accounted for a 4.9%. ACS…
MADRID | Marcelino Fernández Verdes was appointed Thursday chief operating officer of Hochtief, the German division of the Spanish group ACS. Fernández will sit at the executive committee of Hochtief (Vorstand) with CEO Frank Stieler and CFO Peter Sassenfeld. He will address risk management operations of the entire group Hochtief, but will also face the responsibility of breaking the spiralling downward trend its Australian branch Leighton has fallen into. The move…