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ACS Actividades de Construccion y Servicios SA Cancels Margin Call On Iberdrola SA’s Equity Swap-Reuters


Friday, 27 Jul 2012 09:14am EDT 

Reuters reported that ACS Actividades de Construccion y Servicios SA (ACS) has reached a deal with creditor Natixis to cancel the margin call on an equity swap worth EUR 1.4 billion (USD 1.72 billion) in shares in Iberdrola SA. In a statement to the market regulator, ACS said the equity swap matures on March 31, 2015, adding it has the option to cancel the deal related to 46.1% of Iberdrola SA’ s shares included in the deal before that time. 

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