ACS Actividades de Construccion y Servicios : Strategic agreements with third parties
October 29, 2018 at 11:17 am EDT
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Comisión Nacional del Mercado de Valores
Edison, 4
28006 MADRID
Madrid, October 29, 2018
Dear Sirs,
For the purposes specified in Article 228 of the Consolidated Securities Market Act enacted by Royal Legislative Decree 4/2015 of October 23, and supplementary provisions, I now inform you of the following Significant Event:
The parties are continuing to perform and honor the terms of the agreements previously reached by ACS, Actividades de Construcción y Servicios, S.A. (ACS) and its subsidiary Hochtief AG (HOCHTIEF) with Italian company Atlantia S.p.A. (ATLANTIA) in relation to Abertis Infraestructuras S.A. (ABERTIS), as explained below:
1. A Spanish company called Abertis Holdco S.A. has now been incorporated, in which ATLANTIA owns a 50% stake plus one share, while ACS owns a 30% stake and HOCHTIEF a 20% stake minus one share. Abertis Holdco S.A. has been assigned equity of 6,909.3 million euros and has total debt with its lender banks of 9,823.9 million euros.
2. Meanwhile, that same company, namely Abertis Holdco S.A., has incorporated and is the sole owner of a further company called Abertis Participaciones S.A.U., which has been assigned equity of 16,519.6 million euros.
3. HOCHTIEF has now completed the sale to Abertis Participaciones S.A.U. of its entire stake in ABERTIS, said stake representing 98.7% of the latter's share capital, at the same price it paid to acquire that stake, i.e. at 18.36 euros/share.
4. ACS:
has subscribed to a rights issue at HOCHTIEF of 6,346,707 shares at a price (capital plus premium) of 143.04 euros/share, for a total outlay of 907.8 million euros;
has sold to ATLANTIA a total of 16,852,995 shares in HOCHTIEF at a unit price of 143.04 euros/share. This figure was obtained by taking the agreed purchase price of 146.42 euros/share and then deducting from this the dividend already earned by ACS of 3.38 euros/share. As a result, ACS has received total proceeds from the sale of 2,410.7 million euros.
5. Following this capital increase and sale of shares, ACS' stake in HOCHTIEF now amounts to 35,611,834 shares, equivalent to 50.41% of its share capital, while the aforementioned sale of shares has generated for ACS, since it continues to hold a stake
of over 50% in HOCHTIEF, an increase of 2,410.7 million euros in its consolidated equity.
ACS - Actividades de Construcción y Servicios SA published this content on 29 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 October 2018 15:16:08 UTC
ACS, Actividades de Construcción y Servicios, S.A. is one of Spain's leading construction groups. Net sales break down by activity as follows:
- construction of infrastructures and buildings (93.3%): civil engineering infrastructures (primarily highways, hydraulic constructions and railroads), non-residential and residential buildings;
- services (5.4%): cleaning, waste collection and treatment. Moreover, the group offers maintenance services of urban and industrial infrastructures, port and logistical services, and also social services and personal assistance services.
- industrial services (0.5%): development, construction, installation and maintenance of distribution networks of electricity, gas and water, industrial production systems, telecommunication networks, road traffic control systems, etc.;
- other (0.8%).
Net sales are distributed geographically as follows: Spain (9.4%), the United States (56.3%), Australia (20.2%), Canada (5.3%), Germany (2.4%) and others (6.4%).
ACS, ACTIVIDADES DE CONSTRUCCIÓN Y SERVICIOS, S.A. 
