Vinci bids €5.2bn for ACS industrial unit
France's engineering and infrastructure operator Vinci made a non-binding €5.2bn offer to Spanish infrastructure group ACS for its industrial unit.
The Industrial Services division is focused on the development, construction, maintenance and operation of energy, industrial and mobility infrastructure. It is also active in the water and environmental infrastructure business.
Its two main names are Cobra and Dragados Industrial, the first of which stands out with its presence in 60 countries and the size of the contracts executed.
In 2019 it booked sales worth €6.2bn.
According to a filing in the local stock market regulator by ACS, the offer is being evaluated by the board who has decided to proceed with negotiations.
ACS could consider the bid as with many other companies it is currently struggling with the effects of the coronavirus pandemic.
The payment would be €2.8bn in cash and the rest in Vinci shares up to €5.2bn.
If the acquisition goes ahead it will be one of the largest operations in Europe this year.