Vinci looks to acquire Grupo ACS division

French firm makes €5.2bn bid for services arm.

Vinci has made a non-binding proposal to Grupo ACS to acquire its Industrial Services division.

The bid would cover Grupo ACS’s interest in eight concessions and P3s, its engineering and works activities and its platform for developing new renewable energy projects.

It is valued at €5.2bn, of which €2.8bn would be paid in cash – in 2019, on an unaudited pro forma basis, the represented revenue of the businesses under proposal was approximately €6.3bn.

Grupo ACS’s board of directors has declared that it is “open to negotiations”.

Meanwhile, Vinci has continued its push into North America with the acquisition of Canadian energy and telecommunication infrastructure specialist Transelec Common.