Presentation Acquisition of a 25% stake in Hochtief - Grupo ACS

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The TransactionAcquisition of a 25%stake in• Grupo ACS has agreed to acquire a 25.1% stake in Hochtief,one of the world’s largest construction and infrastructuredevelopment groups.• The amount considered for the stake is € 1.264 million in cash, € 72 pershare.• This implies a 6.4% premium on the 19/03/07 market price (€ 67.7/sh).• Grupo ACS will become the industrial reference shareholder ofHochtief:• The company will remain independent.• It will be consolidated in ACS accounts by equity method.• The transaction requires the approval from German antitrustregulator.2
Brief Description of HochtiefAcquisition of a 25%stake inHOCHTIEFCONSTRUCTIONAMERICASHOCHTIEFCONSTRUCTIONEUROPEHOCHTIEFCONSTRUCTIONASIA PACIFICHOCHTIEFAIRPORTSHOCHTIEFDEVELOPMENTS• Leading building(commercial andinstitutional) in US, Canadaand Brazil.• 3 brands, Turner, Aeconand Hochtief Do Brasil.• Turner is a well renownbrand with US nationwidepresence.• € 8,241 million of backlogas of 30/09/06• Sales of € 5,934 million in2005• Construction: Civil Worksand building.• 80% of sales coming fromGermany, a growingmarket.• Specialist in sizeable andcomplex infrastructureprojects.• Affiliates in UK, Austria andEastern Europe.• € 2,790 million of backlogas of 30/09/06• Sales of € 2,110 million in2005.• Leading Constructionservices provider in the AsiaPacific Area: Civil Worksand building.• World largest contractorminer (€1,150 mn, 26% ofits sales).• Market cap as of 19/03/07€ 5,255 mn.• 2006 backlog higher than€12.200 mn.• Sales € 4,578 million in2005.• Shareholder of 5 airportsserving more than 70million passengers.• Athens: 40% stake, until2026• Dusseldorf: 30%, 2057• Hamburg: 49%, 2060• Sydney: 12%, 2097• Tirana: 47%, 2025• Concession developmentand management.• Development of real stateprojects specializing in nonresidentialproperty.• Facility Management.• 22 PPP projects withworldwide presenceportfolio.Sales0% 6%EBITA11%2%15%EBT6%5%15%1%4%42%30/09/06 Data39%13%71%America Europe Asia Pacific Airports Developments70%3
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Presentation Acquisition of a 25% stake in Hochtief - Grupo ACS

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