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Empresas ICA SAB de CV acquires Facchina Construction Group


Friday, 27 Jun 2014 12:40pm EDT 

Empresas ICA SAB de CV:Completes acquisition of Facchina Construction Group (FCG) in United States.Acquisition will enable ICA to increase participation in U.S. market as part of its international growth strategy.ICA has made an initial payment of $ 60 mln for 100 pct of ownership interests in FCG.Additional payments of up to $ 40 mln could be paid based upon company meeting agreed EBITDA targets over next five years through 2019, among other conditions.As part of ICA, FCG is expected to be able to bid on and participate in larger projects than in the past, and be able to incorporate technologies that will improve efficiency.It will also have access to additional surety and financing capabilities. 

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