ICA and CDPQ Come to an Agreement to Create an Operational Platform Dedicated to Transportation Projects in Mexico
13 April 2015 - 12:40PM
MONTREAL and MEXICO CITY, April 13, 2015 (GLOBE
NEWSWIRE) -- Empresas ICA, S.A.B. de
C.V. (BMV:ICA) (NYSE:ICA) and CDPQ announced today 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 Ps. $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.
ABOUT ICA
Empresas ICA, S.A.B. de C.V. is Mexico's largest
infrastructure company. ICA carries out large-scale civil and
industrial construction projects and operates a portfolio of
long-term assets, including airports, toll roads, water systems,
and real estate. Founded in 1947, lCA is listed on the Mexican and
New York Stock exchanges. For more information: ir.ica.mx
ABOUT CDPQ (CAISSE DE DÉPÔT
ET PLACEMENT DU QUÉBEC)
CDPQ is a long-term institutional investor that
manages funds primarily for public and parapublic pension and
insurance plans. As of December 31, 2014, it held C$226 billion in
net assets. As one of Canada's leading institutional fund managers,
CDPQ invests in major financial markets, private equity,
infrastructure and real estate, globally. Its infrastructure
portfolio totals more than C$10 billion in assets. For more
information: www.lacaisse.com
This press release contains
projections or other forward-looking statements related to ICA that
reflect ICA's current expectations or beliefs concerning future
events. Such forward-looking statements are subject to various
risks and uncertainties and may differ materially from actual
results or events due to important factors such as changes in
general economic, business or political or other conditions in
Mexico, Latin America or elsewhere, changes in capital markets in
general that may affect policies or attitudes towards lending to
Mexico or Mexican companies, changes in tax and other laws
affecting ICA's businesses, increased costs, unanticipated
increases in financing and other costs or the inability to obtain
additional debt or equity financing on attractive terms and other
factors set forth in ICA's most recent filing on Form 20-F and in
any filing or submission ICA has made with the SEC subsequent to
its most recent filing on Form 20-F. All forward-looking statements
are based on information available to ICA on the date hereof, and
ICA assumes no obligation to update such statement.
CONTACT: For more information, please contact:
Empresas ICA
Elena Garcia, Investor Relations
relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3608
Caisse de Depot et Placement du Quebec
Jean-Benoit Houde, Senior Advisor Media Relations
+1(514) 847 5493
jbhoude@lacaisse.com
In the U.S:
Daniel Wilson, Zemi Communications
+(1212) 689 9560
dbmwilson@zemi.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Empresas ICA, S.A.B. de C.V. via
Globenewswire
HUG#1910520