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HomeLatest NewsACS executes the purchase of the remaining 21.6% of the SH-288 highway...

ACS executes the purchase of the remaining 21.6% of the SH-288 highway for 384 million

Date: September 29, 2023 Time: 13:56:54

ACS, through its North American subsidiary Iridium, has completed the purchase of the 21.6% that it did not control of Blueridge Transportation Group (BTG), the concessionaire of a section of the SH-288 highway in Texas (USA), for nearly 384 million euros (410.7 million dollars).

As reported this Monday by ACS to the National Securities Market Commission (CNMV), the closing of the operation, announced on April 1, occurred after obtaining all the necessary authorizations. With this purchase, ACS takes over 100% of Blueridge Transportation Group (BTG), concessionaire of a 17-kilometer segment of the SH-288 highway in the city of Houston (Texas), which includes two toll lanes in the median. by sense.

In August 2022, ACS announced that it had taken control of the toll highway, of which it already had 21.65% of the capital, by increasing its participation to 66.27% for nearly 900 million euros. .

Two months later, ACS once again increased its weight in the project after reaching an agreement with Clal Insurance for the acquisition of an additional 12.11% of capital in the North American highway for 250 million euros. The concession for this project, awarded in 2015 by the Texas Department of Transportation, has a duration of 52 years.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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