EMPRESAS ICA, S.A.B. DE C.V. Empresas ICA, S.A.B. de C.V. and CDPQ announced the agreement to create an operational platform dedicated to transportation projects in Mexico. The platform initially includes four projects which are the Acapulco Tunnel, the Mayab Tollroad, the Río Verde – Ciudad Valles Highway and the La Piedad Bypass. Under the terms of this agreement, ICA will own 51% of the platform and CDPQ, 49%.
Upon closing, CDPQ will pay ICA MXN 3,013,500,000 for its equity interest. Completion of the transaction is subject to standard closing conditions and approval from the Government of Mexico, and is targeted for the second quarter of 2015.
