MADRID (Reuters) -Spanish construction company ACS has agreed to sell the transportation business of its Australian subsidiary UGL to Japan's Sojitz Corporation for over 560 million euros ($650
ACS agrees to sell UGL business to Japan's Sojitz for 560 million euros, El E...
Overview of the ACS and Sojitz Deal
MADRID (Reuters) -Spanish construction company ACS has agreed to sell the transportation business of its Australian subsidiary UGL to Japan's Sojitz Corporation for over 560 million euros ($650 million), Spanish newspaper El Economista reported on Monday, citing sources familiar with the talks.
Details of the Transaction
ACS declined to comment, while Sojitz did not immediately respond to a request for comment.
Expected Closing Timeline
The deal is expected to close by the end of this year or early 2026, subject to regulatory approvals, the newspaper said.
Background on UGL and CIMIC Group
ACS's Australian unit CIMIC Group hired Macquarie Capital earlier this year to explore the sale of its UGL transport business, El Economista added.
(Reporting by Corina Pons; Editing by Emelia Sithole-Matarise)
