ACS Group to acquire a 14.46% stake in Hochtief from Atlantia for $577m.

ACS Group, a civil and engineering construction company, agreed to acquire a 14.46% stake in Hochtief, a German construction company, from Atlantia, an Italian holding company active in the infrastructure sector, for $577m. The sale of the stake forms part of Atlantia’s strategy of rationalizing the investment portfolio and selling off non-core investments.