ACS Plans to Replace Hochtief Management Team, Expansion Reports
ACS, which owns 33.5 percent of Hochtief, will probably have boosted its stake to around 50 percent by the time the shareholders’ meeting takes place on May 12, the newspaper said.
At current market prices, ACS will have to spend about 800 million euros ($1.1 billion) buying Hochtief shares in the market to reach a 50 percent stake, Expansion added.
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