ACS sells Chilean highway concession for 1.03 billion U.S. dollars

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MADRID.- The Spanish construction and service firm, ACS, announced today that it has reached an agreement with a consortium headed by the toll-road company, Abertis. The agreement calls for ACS to sell its shares in the Autopista Central and Rutas del Pacífico highways (both located in Chile) for more than 700 million euros (1.03 billion U.S. dollars).

ACS said that it hopes to finish the transaction within the next few weeks. The undertaking must be approved by Abertis management and abide by all requirements introduced in the deal in order to gain official status.

In Chile, Abertis currently operates within the highway, airport, parking lot and logistics park industries.

In highway dealings, Abertis holds 25% of stock for the Elqui Toll-Road Society, which owns the highway between Los Vilos and La Serena.

Abertis also has shares with the company Gesa.

Abertis holds 51% percent of these shares, which it uses to manage, conserve and market highways, roads and expressways, as well as complementary service areas.