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Permira, Mercapital Buy €608M ACS Unit

Private equity firms, Permira Advisers and Mercapital, will acquire the services unit of Actividades de Conscrucción y Servicios.

    Private equity firms,Permira AdvisersandMercapital, will acquire the services unit ofActividades de Conscrucción y Servicios(ACS),Bloombergreports.Cleceis expected to be sold for about €608 million.

    ACS is expected to use the proceeds to reduce its €8 billion debt and fund future projects. ACS is seeking to sell its non-core assets to pay for its stakes in Spanish energy company,Iberdrola, and construction services provider,Hochtief, addsAltAssets.

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    Click here for the additional coverage fromAltAssets.

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