ICA and CDPQ Come to an Agreement to Create an Operational Platform Dedicated to Transportation Projects in Mexico
April 13 2015 - 07:40AM
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