VINCI: non-binding proposal for the acquisition of Grupo ACS’s “Industrial Services” division
02 Ottobre 2020 - 9:50AM
VINCI: non-binding proposal for the acquisition of Grupo ACS’s
“Industrial Services” division
Rueil Malmaison, 2 October 2020
VINCI: non-binding proposal for the
acquisition ofGrupo ACS’s “Industrial Services”
division
VINCI has presented Grupo ACS with a non-binding
proposal to form the basis of negotiations for the acquisition of
Grupo ACS’s "Industrial Services" division, whose controlling
holding company is "ACS Servicios, Communaciones y Energia SA". The
scope of the contemplated acquisition would include, in addition to
the engineering and works activities, interests held in eight
concessions and PPPs relating mainly to energy projects as well as
a platform for the development of new projects in the renewable
energy sector. On an unaudited pro forma basis, these activities
represented revenue of approximately €6.3 billion in 2019.
This proposal has been examined by Grupo ACS’s
Board of Directors, which has declared itself open to
negotiations.
Completion of the transaction remains
conditional, in particular, on the performance of a due diligence
exercise in the coming months. This will include examining
information forming the basis of a carve-out plan for the
activities that would not be transferred to VINCI, including the
Zero-E company and fifteen concessions.
The indicative enterprise value of the business
activities covered by VINCI SA's proposal would be approximately
€5.2 billion of which a minimum of €2.8 billion would be paid in
cash, the remaining part being paid in shares or in cash. The final
terms and conditions of the proposed transaction will be agreed
upon at the end of the due diligence process.
The proposal would be subject to the required
regulatory approvals, including merger control.
ACS and VINCI will inform the market, at the
appropriate time, of the eventual outcome and result of these
negotiations.
About VINCI
VINCI is a global player in concessions and
contracting, employing 222,000 people in some 100 countries. We
design, finance, build and operate infrastructure and facilities
that help improve daily life and mobility for all. Because we
believe in all-round performance, above and beyond economic and
financial results, we are committed to operating in an
environmentally and socially responsible manner. And because our
projects are in the public interest, we consider that reaching out
to all our stakeholders and engaging in dialogue with them is
essential in the conduct of our business activities. VINCI’s goal
is to create long-term value for its customers, shareholders,
employees, and partners and for society at large. www.vinci.com
PRESS CONTACT VINCI Press Department Tel: +33 (0)1
47 16 31 82 media.relations@vinci.com
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