Private equity firms, Permira Advisers and Mercapital, will acquire the services unit of Actividades de Conscrucción y Servicios (ACS), Bloomberg reports. Clece is 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, adds AltAssets.
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