Intermoney | ACS (ACS) (Buy, PO 48 ), through Turner, its main subsidiary in the United States, has won a new contract to build a data centre campus in New Albany (Ohio) commissioned by Vantage, owned by the Silver Lake fund. The €1.85 billion project will involve the construction of three new buildings with a combined capacity of 192 megawatts (MW). It is the technology giant’s first asset in the…
Norbolsa | The US Army Corps of Engineers has awarded ACS (ACS) a €610 million contract to rebuild the Howard A. Hanson Dam in Washington state, improving habitat and increasing water storage. This project is in addition to other ACS contracts with the US Army, such as the €2.7 billion renovation of Dry Dock 3 in Pearl Harbor, Hawaii.
Link Securities | The European Commission (EC) has approved the acquisition of Irish engineering firm Dornan by Turner, a subsidiary of Spain’s ACS, concluding that the deal does not raise competition concerns, digital portal Bolsamania.com reported yesterday. The EC explained that the companies are not active in the same markets or in vertically related markets as it relates to the supply of mechanical and electrical engineering services. It should be…
Link Securities | ACS (ACS), through its subsidiary Dragados, has increased its presence in Transport for London projects, according to Expansión newspaper. Transport for London (TfL) has selected the Spanish group’s proposal for the design and construction of new passenger tunnels at Elephant & Castle Underground station. The project involves the excavation of around 135 metres of pedestrian tunnels linking the new station with the platforms and the existing bridge….
Intermoney | ACS (ACS) (Buy, Target Price €46/share) has confirmed in a conference held in New York that the Group will record an accounting loss of €860 million derived from the execution by the State of Texas, which will pay about $1,750 million, while the book enterprise value of the infrastructure was estimated at about €3,000 million, according to the newspaper Expansión. The Group, however, expects the final year-end impact…
Intermoney | The construction company (Comprar, PO 46 €), through its North American subsidiary Turner, has been awarded the contract for the renovation of San Francisco airport, which will involve an investment of €2.35 billion, according to Expansión newspaper. The work will focus on Terminal 3, extending the surface area of this facility by 200,000 square metres, while at the same time refurbishing a further 650,000 square metres and erecting…
Link Securities | The company continues to consolidate its shareholding position in the German construction company Hochtief, increasing its control position thanks to the purchase of shares in the subsidiary and thus approaching the threshold of 80% of the German company’s capital. Specifically, and as reported yesterday by the newspaper Expansión, ACS already controls 79.1% of the German construction company after the latest financial investments made. In this regard, Expansión…
Santander | In a significant event, Abertis (BBB- e, BBB e) has announced that the Texas Department of Transportation (TxDOT) has decided to proceed with the repurchase of the SH-288 toll road in Texas, which has been owned by ACS Group and Abertis since November 2020. TxDOT will make a payment of $1.732bn, of which $520mn will be used to repay debt associated with the project, while Abertis will receive…
Intermoney | ACS (Buy, PO 46 €) and Acciona (Buy, PO 200 €) have been awarded, together with the Meridian fund, the SR400 toll road, which will be located in the vicinity of Atlanta (United States), according to the newspaper El Confidencial. With an investment of approximately €9.8 billion, the project has a construction period of approximately 5.5 years with an operation and maintenance period of a further 50 years….
Link Securities | ACS (ACS), through ACS Infra (Iridium) and Flatiron-Dragados announced that it has been selected by the Atlanta Airport Community Improvement Districts (AACID) to design, build, finance, operate and maintain the Automated Transit Network (ATN) Project that will improve connections at the world’s busiest airport. No financial details of the contract have been disclosed, according to Cinco Días newspaper on Monday. This pilot project extends approximately 800 metres…