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.
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 email@example.com +(5255) 5272 9991 x 3608 Caisse de Depot et Placement du Quebec Jean-Benoit Houde, Senior Advisor Media Relations +1(514) 847 5493 firstname.lastname@example.org In the U.S: Daniel Wilson, Zemi Communications +(1212) 689 9560 email@example.com
Source:Empresas ICA, S.A.B. de C.V.