ACS, Actividades de Construcción y Servicios, S.A announces an Increase in Equity Buyback.
May 24, 2020
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On May 25, 2020, the company announced an increase in its equity buyback plan. Under the plan, the company increased the plan terms by 12,000,000 shares and increased the monetary value by €290 million taking the total shares to be repurchased as 22,000,000 million for €660 million.
On May 25, 2020, the company announced that it has extended its plan duration till March 31, 2022.
ACS, Actividades de Construcción y Servicios, S.A. is one of Spain's leading construction groups. Net sales break down by activity as follows:
- construction of infrastructures and buildings (93.3%): civil engineering infrastructures (primarily highways, hydraulic constructions and railroads), non-residential and residential buildings;
- services (5.4%): cleaning, waste collection and treatment. Moreover, the group offers maintenance services of urban and industrial infrastructures, port and logistical services, and also social services and personal assistance services.
- industrial services (0.5%): development, construction, installation and maintenance of distribution networks of electricity, gas and water, industrial production systems, telecommunication networks, road traffic control systems, etc.;
- other (0.8%).
Net sales are distributed geographically as follows: Spain (9.4%), the United States (56.3%), Australia (20.2%), Canada (5.3%), Germany (2.4%) and others (6.4%).