UPDATE 1-Spain's ACS sees sale of port services soon

* ACS has several offers for Dragados SPL ports division

* Has extended equity swap on 5 percent of Iberdrola

(Adds news on renewal of equity swap, gives detail)

MADRID, Oct 30 (Reuters) - Spanish builder ACS (ACS.MC) hopes to decide on one of the several offers to buy its Dragados SPL ports-services unit soon and has renewed to March 2011 its option to buy an extra 5 percent of power group Iberdrola.

"The sale of SPL is taking more time than we expected ... there are several interested parties and we hope the sale will take place in the next few months," ACS Corporate Development Manager Angel Altozano said on a conference call on Friday.

Analysts have said ACS needs to sell some divisions like SPS to finance its plans to raise its stake in Iberdrola to 20 percent, a level at which it would be able to consolidate the holding in its earnings through the equity-accounted method.

The builder holds about 7 percent of Spain's largest power group in shares, excluding an option to buy the extra 5 percent through an equity swap, and has invested 2.32 billion euros in the instrument.

ACS has also been attempting to gain a seat on Iberdrola's board. It acquired its stake in the utility at about 9 euros per share, far above its current price.

At 1231 GMT, Iberdrola was trading up 0.5 percent at 6.31 euros, while ACS was down 0.5 percent at 33.61.

ACS' conference call on Friday followed an in-line set of nine-months results published on Thursday. [ID:nLT417075] (Reporting by Andres Gonzalez; Writing by Jonathan Gleave; Editing by David Holmes)