Vinci is a global player in franchising, construction and energy businesses and has announced the completion of the acquisition of ACS energy business. The acquisition covers most of the contracting business of the ACS Industrial Services Division; nine greenfield concession projects under development or construction (mainly the transmission network in Latin America); and its renewable energy project development platform. The statement added that the acquisition is an important milestone in VINCI's strategy, which aims to build a global leader in engineering, engineering and services focused on the energy sector, as well as the development of renewable energy concession projects.

Through this strategy, the group intends to expand its franchise portfolio and extend its average maturity, while continuing to contribute to environmental transformation. The agreement for the acquisition was initially announced on April 1, 2021. The statement said: "This acquisition provides a strong growth lever." "The business and geographic footprint of Cobra IS complements the business and geographic footprint of VINCI, through which it provides turnkey EPC (engineering, procurement and construction) projects in the energy sector. Recognized expertise and strong local position in the Iberian Peninsula and Latin America "VINCI's business model will benefit from Cobra IS's expertise in developing renewable energy concessions. Therefore, VINCI intends to become an important player in this field and has identified new opportunities in the short and medium term. The final total capacity is about 15 GW, mainly solar photovoltaic and onshore wind power, as well as additional GW from potential offshore wind power projects. VINCI’s financial strength will be a further advantage for accelerating the growth of the new division as a long-term operator of renewable energy assets,” it added. The final purchase price was US$5.56 billion, fully funded by VINCI’s available cash, equivalent to the initial agreement between the two parties. The enterprise value of US$4.77 billion, plus US$795.1 million related to the cash held by the new department and various adjustments. For every GW of renewable energy capacity developed by CobraIS during 8.5 years, ACS will receive 45.43 million U.S. dollar earnings payments can reach up to 15 GW, resulting in additional payments of up to $681.5 million.

Xavier Huillard, Chairman and CEO of VINCI, commented: “The integration of ACS’s energy business, including its renewable energy project development platform, is good news for VINCI. Through this strategic transaction, we not only intend to build a focus on the energy sector. Of global leaders in engineering, engineering and services-VINCI has already developed a wide range of operations in this area-and, thanks to the long-term record expertise developed by CobraIS, to accelerate our development in renewable energy, this will help For us to make greater contributions to environmental transformation. "We very much welcome CobraIS employees to join the VINCI Group under the leadership of their experienced management team. "Keywords: engineering construction, engineering news

VINCI and ACS also finalized a joint venture agreement that provides for the creation of a new entity that will have the right to purchase CobraIS renewable energy assets developed, financed, constructed and connected to the grid at market prices.Editor/XingWentao