Acciona to Take Annulled Barcelona Water Deal to Supreme Court

Acciona SA and partner Grupo BTG Pactual will seek a Supreme Court ruling after Catalonia’s top court revoked its contract to privatize Barcelona’s water supply, Cinco Dias said, citing sources close to the company.

Catalonia’s Superior Court said yesterday it agreed with Sociedad General de Aguas de Barcelona’s challenge to a 1 billion-euro ($1.3 billion) contract awarded to Acciona and its partners last year and urged the regional government to call for a new bidding process, according to court documents.

Acciona, based in Alcobendas, Spain, has managed Barcelona’s water supply since Jan. 1 and will continue to do so for the time being, Cinco Dias reported.

Calls to an Acciona spokeswoman outside normal business hours were not returned.

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