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BRIEF-Acciona buys 82.4 pct of Australia's Geotech for A$197 million

Published 08/03/2017, 05:48 pm
Updated 08/03/2017, 05:50 pm
BRIEF-Acciona buys 82.4 pct of Australia's Geotech for A$197 million

March 8 (Reuters) - Acciona SA ANA.MC :

* Buys an indirect stake of 82.4 percent in Geotech Holdings Pty Ltd for A$197 million ($149.6 million)

* Cash consideration for transaction is subject to adjustments and depends on the assignment to Acciona Australia of three projects currently under tender

* Transaction values Geotech at A$262 million and assumes that Acciona Australia will be bidding vehicle for future civil construction projects in Australia and New Zealand

* Geotech transaction consideration is included in 900 million euros gross CAPEX guidance for 2017

* Carries out the acquisition through Acciona Geotech Holding, referred to as Acciona Australia Source text for Eikon: ID:nCNM6DgH1H Further company coverage: ANA.MC ($1 = 1.3172 Australian dollars) (Gdynia Newsroom)

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