The ACS Group obtains a net capital gain of no less than 2,900 million euros.
The ACS Group has made effective the sale of its industrial business by the French Vinci for 4,902 million euros, as reported to the National Securities Market Commission.
The company has underlined that “the segregation is pending (carve out) in favor of the ACS Group of some predetermined assets, which will be executed mainly in the month of January and in the following months ”.
As a result of this new purchase, the ACS Group obtains a net capital gain of no less than 2,900 million euros.
In addition, you will receive a maximum variable payment of 600 million euros in cash at a rate of 20 million euros for each GW medium developed by the Industrial Division (up to the state Ready To Built) between March 31, 2021 and up to 7 years following the execution of the sale, extendable for an additional 18 months if the sold Industrial Division fails to develop 6GW in the first 42 months.
In the same way, both parties have agreed on the specific terms of creation and operation of a joint venture to which will be contributed, once they are completed, connected to the network and ready to produce, all the renewable assets developed by the Industrial Division that is the object of the agreement, at least in the eight and a half years following the execution of the sale. . Vinci will have 51% of political and economic rights and ACS the remaining 49%.