
Isidro Fainé will be proposed as proprietary director of ACS on behalf of CriteriaCaixa
Barcelona, May 24, 2024.- CriteriaCaixa, the holding managing ”la Caixa” Foundation’s business assets, has acquired today on the stock market a 9.4% stake of the share capital of ACS, for a total amount of €983 million. This deal is part of the investment policy of CriteriaCaixa – company chaired by Isidro Fainé and whose CEO is Ángel Simón – which focuses on leading companies with a capacity for growth and value creation in highly attractive industries.
Following the transaction, CriteriaCaixa will become ACS’s second largest shareholder and will propose to the Board of Directors the appointment of Isidro Fainé as a proprietary director.
The ACS Group is a global infrastructure operator and provider, made up of leading companies in development, engineering, construction and operation of essential infrastructure projects, as well as new generation solutions. With more than 135,000 employees around the world, the group registered turnover of €35.7 billion in 2023, closing the year with a project portfolio amounting €73.5 billion.
In recent years, the company has achieved a strong geographical diversification, with a presence specially in high growth potential areas, including North America, Asia-Pacific and Europe. The ACS Group also stands out for its business diversification, with significant exposure to comprehensive solutions developed by subsidiaries as Turner (North America) and Cimic (Australia); infrastructure, where Abertis and Iridium mainly stand out; and engineering and construction, with Dragados, among others.
ACS has also developed a new structure and focus on growing new sectors, such as technology and digitalization, energy transition, sustainable mobility and critical minerals. This is a commitment to sectors that are of interest to CriteriaCaixa and that especially justify this investment decision.
Likewise, ACS’s shareholder remuneration policy, with a stable and growing dividend forecasted in its new 2024-2026 Strategic Plan, fits into CriteriaCaixa’s strategy of seeking investment options with a long-term focus that maximize dividend yield.
The deal allows to consolidate the model of CriteriaCaixa, which has built over the years a portfolio with significant shareholdings in strategic industries, such as banking, energy, telecommunications, or water, among others. This strategy that has been reinforced in recent months with significant deals such as the shareholding increase in Telefónica, and the capital entry into top-level companies such as Colonial and Puig, which offer greater exposure to real estate and fashion & beauty industries.
The entry into ACS’ shareholding also contributes to CriteriaCaixa continuing to strengthen “la Caixa” Foundation’s assets structure, with the aim of generating the necessary financial resources in order to further developing its social action and contributing year after year to the development of a society that gives more opportunities to those who need it most.