ACS Gets Offer for Industrial Unit From Vinci, Valuing Business at EUR5.2 Billion
02 Ottobre 2020 - 10:20AM
Dow Jones News
By Joshua Kirby
Actividades de Construccion y Servicios SA said Friday that
Vinci SA made a non-binding offer for its industrial division that
estimated the business's enterprise value at 5.2 billion euros
($6.11 billion).
The Spanish construction company said it has examined the
proposal and will continue negotiations with the French
construction and infrastructure company. The division had a
turnover of close to EUR6.3 billion in 2019, the company said.
The offer will undergo due diligence over the next few months,
ACS said. The process will include a carve-out of those parts of
the division that would not be included in the sale to Vinci, it
said. The transaction is subject to approval from relevant market
authorities.
At least EUR2.8 billion of the total sum would be paid in cash,
while the rest would be payable either in cash or shares, ACS
said.
Write to Joshua Kirby at joshua.kirby@dowjones.com
(END) Dow Jones Newswires
October 02, 2020 04:05 ET (08:05 GMT)
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