ACS environmental services unit Urbaser eyed by three Chinese funds
ACS has received preliminary proposals from three Chinese funds interested in acquiring its environmental services unit Urbaser, El Confidencial reported citing unnamed sources from the Spanish construction group and financial sources.
ACS has received initial offers from Fosun, Cheung Kong Infraestructure (CKI) and Beijing Enterprises Holding, amounting to circa EUR 2.3bn for the entire Urbaser division, according to the report. Urbaser has also attracted the interest of the private equity funds Apollo, EQT and Brookfield, though the private equity players have only shown interest in the incineration plants, according to the Spanish-language report.
ACS has already analysed 12 non-binding offers for Urbaser and the transaction is still open to other potential suitors, El Confidencial said. The company is being advised by Societe General.
El Confidencial