Vinci: ACS expected to approve sale of Cobra
(CercleFinance.com) - Vinci and ACS Industrial have reached a final agreement on the price and payment method after six months of negotiations, according to El Confidential.
ACS is expected to meet its board of directors to approve the sale of Cobra to Vinci, according to the Spanish newspaper at a price of 5.2 billion euros.
In early October 2020 Vinci presented Grupo ACS with a non-binding proposal for the acquisition of its Industrial Services division.
The offer is for approximately 5.2 billion euros, of which at least 2.8 billion euros would be paid in cash, with the remainder to be paid in shares or cash.
These activities generated revenues of about 6.3 billion euros in 2019.
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ACS is expected to meet its board of directors to approve the sale of Cobra to Vinci, according to the Spanish newspaper at a price of 5.2 billion euros.
In early October 2020 Vinci presented Grupo ACS with a non-binding proposal for the acquisition of its Industrial Services division.
The offer is for approximately 5.2 billion euros, of which at least 2.8 billion euros would be paid in cash, with the remainder to be paid in shares or cash.
These activities generated revenues of about 6.3 billion euros in 2019.
Copyright (c) 2021 CercleFinance.com. All rights reserved.