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| ACS closes deal for financing of Hochtief acquisition  The ACS Group has signed an agreement for the financing of the acquisition of a 25.1% stake in Hochtief, the leading construction firm in Germany and the third ranked worldwide. The Spanish group acquired the stake this past March for €1,264 million, financing the deal with a bridge loan form BBVA. The final financing arrangements involve a 5-year syndicated loan backed with the shares in Hochtief (non-recourse of the shareholders) granted by BBVA, Caja Madrid, La Caixa, ICO, Barclays Bank, Royal Bank of Scotland, Société Générale and the German banks Landesbank Hessen-Thüringen Girozentrale (Helaba), IKB Deutsche Industriebank and Bayersiche Hypo-Und Vereinsbank.write your comments about the article :: © 2007 Construction News :: home page |