on VINCI (EPA:DG)
VINCI Concludes Agreement with ACS on Cobra IS Acquisition
VINCI and ACS have finalized an agreement related to the acquisition of Cobra IS, initially completed on December 31, 2021. Key aspects of the deal include a fixed earn-out for Cobra IS' renewable energy developments set at €380 million, with €300 million yet to be paid by VINCI in cash. This decision replaces a previous plan that capped these earn-outs at €600 million.
The agreement also ends the joint venture initiative between VINCI and ACS for new renewable energy projects by Cobra IS. The financial impact on VINCI's statements is minimal, as it aligns with earlier fiscal accounting.
The total acquisition cost of Cobra IS was valued at €5.3 billion, including the enterprise value of €4.6 billion at the acquisition time.
R. E.
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