etching, Australian subsidiary of the group ACS, has confirmed that inducements -in which it has a 47.5% stake – is studying launching a public offering for the sale of shares for its IPO, for which it has hired advisers to help in the strategic review of possible options for Ventia, one of the large service providers Australia and New Zealand managed by CIMIC and by Apollo Global Management.
In a statement sent to the Australian stock exchange, it indicates that no decision has yet been taken on the matter. According to market data, the total valuation of the company could exceed 2 billion euros. Last year, inducements closed with Ferrovial the purchase of its Australian services subsidiary Broadspectrum for 465 million Australian dollars (295 million euros).
Ferrovial bought Broadspectrum in 2016 through a takeover bid that valued the company at A $ 769 million (€ 488 million at the current exchange rate). Then it acquired its activities in Australia Y New Zealand, as well as in USA, Canada Y ChileBusinesses that were outside the sale transaction to Ventia because, in their day, they were integrated into Ferrovial Servicios Internacional.
In addition, it should be remembered that at the end of 2020 Cimic closed the partial sale of the Australian mining company Thiess to the British Elliot, an operation with which he expected to earn up to 1.38 billion euros before taxes. The transaction valued 100% of Thiess shares, in which CIMIC continues to hold 50% of the capital, at approximately 2,600 million euros.
As the president of ACS recently pointed out, Florentino Pérez, the group is immersed in a strategy to reduce its complexity, which involves grouping the construction businesses, as well as those of concessions, but not by increasing the participation in its subsidiaries Hochtief and Cimic.