ACS has sold on the market a 3.69% of Iberdrola for a price of 3.62 €/share.
- The proceeds of the sale accounted for 800 million Euros,
and will be dedicated entirely to reduce debt.
- Grupo ACS maintains its position as the reference
shareholder of the utility company.
Grupo ACS has sold in the market a 3.69% of the capital of
Iberdrola, through an accelerated bookbuilding for 3.62€
per share. The proceeds from the transaction accounted for
800 million Euros, to be dedicated to reduce corporate debt
and to strength the liquidity of the Group after the
release of the guarantees.
The net impact on the consolidated results of the Group
will account for 540 million euros, that will be
compensated with the capital gains after the sale of non
core and non strategic assets during the year, like for
example the partial sale of Clece that accounted for more
than 150 million euros.
ACS maintains its position as reference shareholder of the
Spanish utility with a stake of a 14.85% of the share
capital, and remains as a loyal and stable long term
partner of the company.
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