Acquisition: VINCI shares rise, ACS shares in red: VINCI wants to take over energy business from ACS in a billion-dollar deal | message
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The French are putting a purchase price of around 4.9 billion euros on the table, as the company announced in Paris on Thursday. VINCI said that the company’s own businesses and those to be taken over went well together, also regionally. With the acquisition, the French would bring in additional sales of more than six billion euros and around 45,000 employees. In the renewable energy business, the two groups want to negotiate a joint venture under the leadership of VINCI.
The ACS businesses are primarily concerned with plant construction, energy networks and their technology, but also with toll systems. ACS is therefore strongly represented in Spain and Latin America.
VINCI is a large construction company, but also operates many toll roads. The takeover still needs the blessing from the authorities and should be completed towards the end of the year. Under certain conditions, up to 0.6 billion euros could be added to the purchase price, it said. ACS is also known as the majority owner of the German construction group HOCHTIEF with a good 50 percent of the shares.
The VINCI share posted a premium of 3.01 percent to 89.99 euros on Thursday at EURONEXT in Paris, while the ACS share in Madrid fell 1.63 percent to 27.80 euros.
/ men / jha /
PARIS / MADRID (dpa-AFX)
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