Oct 24, 2011 - Spanish construction and services group ACS (MCE:ACS) may close divestitures worth EUR 5 billion (USD 6.947bn) in 2011, daily Expansion said today.
The company has already sold assets for EUR 3.192 billion this year. The upcoming divestment deals may include sales of renewable energy assets and the airport business of German builder Hochtief (ETR:HOT), where ACS is a shareholder.
The latest asset sale was for EUR 588.36 million. ACS has agreed to sell a 50% stake in its I-595 motorway in the US state of Florida to US pension fund Teachers Insurance and Annuity Association of America.
Before that, the Spanish firm divested of wind energy assets of 760 MW and two solar thermal plants. In 2010, when ACS started selling green energy assets it had 2,148 MW in its portfolio.
(EUR 1.0 = USD 1.389)