ACS Actividades de Construccion y Servicios SA Announces Further Details On Iberdrola SA’s Equity Swap


Thursday, 27 Dec 2012 12:23pm EST 

ACS Actividades de Construccion y Servicios SA (ACS) announced that in relation to the previous announcement from July 27, 2012 regarding the deal with creditor Natixis to cancel the margin call on an equity swap worth EUR 1.4 billion (USD 1.72 billion) in 277,971,800 shares of Iberdrola SA, the Company has signed an amendment that payment will be in shares or in cash. In addition, in relation to the prepaid forward contract between Residencial Monte Carmelo SA, a subsidiary of ACS and Societe General, regarding the total of 492,545,762 Iberdrola’s shares, it has been signed an amendment that payment will be only in shares.