check this article out....its a few months old but still very relevant ....
https://thecorner.eu/spain-economy/acs-negotiates-with-vinci-the-sale-of-its-industrial-subsidiary-cobra-for-e5-2-bn/89522/
French giant vinci has offered to buy ACS's services division for 5.2b euros.....doing their due diligence right now. Should this deal go ahead ACS will get a min of 2.8b euros in cash. what will they do that cash? article includes the speculation below on CIMIC....
"The experts also flag that the delisting of Australian group Cimic (close to 80% owned by Hochtief, 50.4% by ACS) or an increase in the participation in Hochtief could be considered. The delisting of Cimic, assuming a +20% premium on the current price, would imply a 825 M euros spend. Meanwhile, ACS would continue to work on finding a partner for Cimic’s mining service subsidiary Thiess. This could be an option which would also include cash."
also the debt ACS took on by buying Abertis is in Hoctiefs books....so this 2.8b can't be used to pay that debt down....
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