ACS hires SocGen to sell services unit in 700 million-800 million euro deal, Expansion reports
Reuters
Published Nov 13, 2023 04:01AM ET
MADRID (Reuters) - Spanish construction group ACS has hired Societe Generale (OTC:SCGLY)'s investment bank to sell its services unit Clece, Expansion newspaper reported on Monday, citing unidentified finance sources.
The unit, which provides services of building maintenance, logistics as well as care assistance, mainly in Spain, would be worth between 700 million euros ($748.5 million) and 800 million euros, Expansion reported. The unit employs 80,000 workers.
The newspaper said ACS has also hired Bank of America for the sale.
ACS, Societe Generale and Bank of America did not immediately respond to requests for comment.
Rivals Sacyr and Ferrovial already disposed parts or their entire units of services in the past months.
(This story has been refiled to correct the spelling of the unit to 'Clece' from 'Clese' in paragraph 1)
($1 = 0.9352 euros)
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Written By: Reuters
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