Recently, Wanxi Group signed an acquisition agreement to acquire the energy business of ACS for US$5.7 billion (4.2 billion euros), including a 15GW renewable energy pipeline. In fact, in October 2020, Wanxi Group reached a non-binding purchase opinion with the ACS Industrial Services Department, and plans to acquire the ACS Industrial Services business for approximately 5.2 billion euros in the form of 2.8 billion euros in cash plus stock cash. According to the acquisition agreement, approximately 45,000 employees will be involved, who are located in 50 countries.

The Wanxi Group’s transaction includes an 8 million kilowatt offshore wind power plant in the early stage of the project, as well as onshore wind and solar power plants. In addition, the two companies also plan to negotiate a 51% to 49% cooperation agreement to acquire mature renewable energy assets. After the acquisition, the acquired company will develop, build and connect to the grid. The transaction is in line with Wanxi’s strategy of becoming an international contractor in the energy sector, developing a platform for renewable energy projects, expanding the concession portfolio and extending its average duration. To raise funds for the acquisition, the company will use available cash and credit lines. Xavier Huillard, Chairman and CEO of Wanxi Group, said: "This acquisition is of great significance to Wanxi. Using this opportunity, we can transform into an international contractor in the energy sector. And the development of renewable energy projects, which is also in line with Wanxi’s strategy. He also said that Wanxi welcomes the excellent management team of ACS Energy and about 45,000 skilled employees to join. Through complementary geographical location, technical expertise and The synergistic effect of the integrated business model will help Wanxi to harvest new projects and seize more opportunities for renewable energy. Using ACSIS’s confirmed track record, Wanxi’s contribution to climate change will increase and will continue Pursue our environmental goals. The completion of the transaction requires regular regulatory approvals, including merger control, and is expected to be completed before the end of 2021.

About Wanxi

As one of the top 10 international contractors of ENR for many consecutive years, France Vanxi has embarked on a diversified development path through large-scale domestic and overseas mergers and acquisitions, creating a whole industry chain of design, financing, construction, operation, maintenance and service, and successfully developed A franchise high-profit business model formed by mergers and acquisitions integration, business integration, and financing capabilities. As the main subsidiary of Wanxi Group, Wanxi Energy is the largest energy engineering and information technology company in France and Europe. It is active in more than 50 countries in the world. Its main business includes energy infrastructure development and construction and industrial energy services. .

 About ACS

As the largest construction company in Spain, ACS has ranked first among ENR international contractors for 7 consecutive years, and the world's largest infrastructure concessionaire for 10 consecutive years. It has strengthened its construction + service business through asset acquisitions and acquisitions. Industrial services are the second pillar business of the ACS Group, mainly centering on the two business lines of industrial support services and EPC projects. In 2019, operating income was 6.330 billion euros, a decrease of 55 million euros from 2018; net operating profit was 600 million euros, and 2018 The same year.Editor/Xing Wentao