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ACS Receives Up to 700 Million Euros from Florentino Pérez and Criteria to Boost Data Center Focus

The construction company will launch a capital increase to accelerate investments in digital infrastructure, semiconductors, and artificial intelligence.

Generic image of digital infrastructure and finance.
IA

Generic image of digital infrastructure and finance.

Construction firm ACS will receive up to 700 million euros from Florentino Pérez and Criteria Caixa through a capital increase to accelerate its investment plan in digital infrastructure.

ACS has announced a significant capital injection of up to 700 million euros, committed by its main shareholder, Florentino Pérez, through his company Rosán Inversiones, and by Criteria Caixa, the second-largest shareholder. This operation, to be carried out via a capital increase, primarily aims to bolster the company's investment plan in digital infrastructure, with a special focus on data centers, semiconductors, and artificial intelligence.
According to details communicated to the National Securities Market Commission (CNMV), Rosán Inversiones will subscribe to 1.2 million shares, and Criteria Caixa will acquire up to 4,074,969 shares. These subscriptions, valued at approximately 695 million euros at current market prices, will be accompanied by a 90-day lock-up commitment. The increase will issue up to 5,433,291 new shares, representing about 2% of ACS's share capital, and will be conducted through an accelerated placement to qualified investors, excluding preferential subscription rights.
Concurrently, ACS has agreed to cancel two financial swap (equity swap) operations involving 11.12 million shares with Société Générale and CaixaBank. The sale of these shares, expected to generate around 1.1 billion euros, will also be integrated into the accelerated placement. The transaction, coordinated by BofA Securities Europe, CaixaBank, and Société Générale, is anticipated to conclude by early Tuesday, May 19.
The company asserts that this operation will create shareholder value by deploying initiatives with the potential for long-term cash flows and attractive returns. The net proceeds will be allocated to the development of its business plan, including accelerating investment opportunities within its capital framework of 5.5 to 6 billion euros. A portion of the funds is expected to be invested in digital and technological infrastructure in key markets such as the United States, Canada, Europe, and the Asia-Pacific region, as well as strengthening engineering and modular construction capabilities, and other traditional infrastructure investments.

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