VINCI SA (ENXTPA:DG) entered into a non-binding proposal to acquire Industrial Services Division from ACS Servicios, Comunicaciones y Energía, S.L. for €5.2 billion on October 2, 2020. VINCI entered into an agreement to acquire Industrial Services Division from ACS Servicios, Comunicaciones on April 1, 2021. Under the terms, VINCI will pay €2.8 billion in cash and the remaining part being paid in shares. The final terms and conditions of the proposed transaction will be agreed upon at the end of the due diligence process. As per the initial agreement signed on March 30, 2021, Vinci will pay €5.2 billion of which €2.8 billion will be paid in cash and €2.4 billion in shares. As per the agreement signed on April 1, 2021, the business being acquired has Enterprise value of €4.2 billion, leading to a purchase price at closing of €4.9 billion, to be paid fully in cash, assuming a closing at year-end 2021, after taking into account €0.7 billion of net cash items, working capital and other adjustments of which €479 million is net cash. The deal also includes an additional contingent payment maximum of €600 million. The final purchase price of €4.9 billion, financed entirely through VINCI's available cash.

In 2019, Industrial Services Division generated revenue of €6.3 billion. VINCI is delighted to welcome an outstanding management team and a skilled workforce of around 45,000 people. Transaction is subject to due diligence, regulatory approvals and including merger control. It will not have a significant impact on VINCI's balance sheet strength. the transaction is anticipated to close by year-end or maybe at the very early beginning of 2022.The earnings per share accretion is expected to be mid- to high-single-digit, from the first year after closing. As on November 30, 2021, The Council of Ministers held this Tuesday has given green light for the transaction.

SG Corporate & Investment Banking acted as financial advisor to ACS, Actividades de Construcción y Servicios, S.A. (BME : ACS), parent of ACS Servicios, Comunicaciones y Energía, S.L. JPMorgan Chase & Co. (NYSE:JPM) acted as fairness opinion provider to ACS Servicios, Comunicaciones y Energía, S.L. Citigroup Inc. (NYSE:C) acted as financial advisor for ACS Servicios. Luis Alonso, Javier García de Enterría and Jaime Almenar Clifford Chance S.L.P. acted as legal advisor to ACS Servicios, Comunicaciones y Energía, S.L. Claude Serra, Guillaume Bonnard, Yannick Piette and Michael Doumet of Weil, Gotshal & Manges LLP, Paris acted as a legal advisor to VINCI SA for the transaction. Juan Aguayo, José Luis Rodríguez, Andrew Ward, Luis Pérez de Ayala, Soraya Sáenz de Santamaría, and Soraya Romero of Cuatrecasas, Gonçalves Pereira, S.L.P. acted as legal advisor to the transaction.

VINCI SA (ENXTPA:DG) completed the acquisition of Industrial Services Division from ACS Servicios, Comunicaciones y Energía, S.L. on December 31, 2021.