Empresas ICA, S.A.B. de C.V. (BMV:ICA *) agreed to acquire 51% stake in San Martin Contratistas Generales S.A. for approximately $120 million on May 30, 2012. Under the terms of the agreement, $18 million will be paid on closing and rest will be paid over the next five years. The purchase price for the stake will take into account various factors including San Martin's performance from 2011 to 2014. San Martin Contratistas reported revenues of $240 million in the year ended December 31, 2011. The transaction is subject to certain approvals and is expected to close in June 2012. BBVA acted as financial advisor for ICA. Daniel Wilson of Zemi Communications acted as public relations advisor for ICA. Lazard Ltd. acted as the financial advisor for San Martin Contratistas. Empresas ICA, S.A.B. de C.V. (BMV:ICA *) completed the acquisition of 51% stake in San Martin Contratistas Generales S.A. in June, 2012.