Mexico's ICA to Sell Stake in Toll Road Venture
June 20 2013 - 9:24AM
Dow Jones News
MEXICO CITY--Mexican construction company Empresas ICA SAB (ICA,
ICA.MX) said Thursday it has reached an agreement to sell its stake
in a toll road venture to partner Goldman Sachs Group Inc. (GS) for
5.07 billion pesos ($380 million).
ICA said its 18.7% stake in Red de Carreteras de Occidente SAB
will be sold to funds operated by Goldman Sachs, its partner in the
venture that operates 760 kilometers of toll highways in western
Mexico.
ICA, Mexico's largest construction company, said it will
continue to provide operation services for the roads. ICA said it
plans to use the money from the sale to pay down short-term debt
taken out to speed up the completion of existing projects and
provide capital for new projects.
Write to Anthony Harrup at anthony.harrup@dowjones.com
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