ACS falls almost 4% after the renegotiation of the highway contract in Texas

MADRID, 28 Mar. (EUROPA PRESS) -

ACS shares fell almost 4% this Thursday on the stock market around 9:30 a.m., after the Texas Transportation Commission (USA) announced - with the market already closed - that it will force a renegotiation of the transportation contract. concession of the SH-288 toll highway, currently owned by the ACS group and Abertis, as well as the possible termination of the agreement that came into operation in November 2020.

Thus, the company chaired by Florentino Pérez left 3.62% in the Madrid selective, until exchanging its shares at a unit price of 38.59 euros.

Specifically, the Commission will meet this Thursday to authorize the creation of a transportation corporation and the possible early termination of the concession contract for the Texas highway, of which ACS purchased the remaining 21.62% on April 1, passing thus to hold 100% of the capital invested in the project.

Likewise, both companies have informed the National Securities Market Commission (CNMV) that prior to the decision, they will open a period of six months to negotiate a new agreement with the current concessionaire that avoids said early termination and that reflects the interest of the State of Texas and the investing shareholders.

This is one of the most important infrastructure works undertaken in the Houston metropolitan area, which, after its opening to traffic in 2020, contributes significantly to alleviating congestion problems in one of its most populated areas.