Paris-based Vinci Group, already Europe’s largest construction business, is looking to buy most of the industrial services activities of Spain’s Grupo ACS for $6.1 billion, with at least $3.3 billion in cash.
ACS’s directors have agreed to negotiate VINCI’s non-binding offer for ACS Servicios, Communaciones y Energia S.A. The acquisition would include a business with $7.4 billion of sales last year, including interests in eight mainly energy-related public-private partnerships and a renewable energy development business.