DGAP-News

ICA Executes Definitive Agreement to Sell Stake in Red de Carreteras de Occidente (RCO)

Empresas ICA, S.A.B. de C.V.

20.06.2013 15:06
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MEXICO CITY, 2013-06-20 15:05 CEST (GLOBE NEWSWIRE) --
Empresas ICA, S.A.B. de C.V. (BMV:ICA) and (NYSE:ICA), the largest
infrastructure and construction company in Mexico, announced the signing of a
definitive agreement to sell its 18.7% stake in Red de Carreteras de Occidente,
S.A.B. de C.V. (RCO), the concessionaire for approximately 760 km of highways
in Mexico to funds managed by Goldman Sachs.

ICA expects to receive Ps. 5,073 million for its investment and to continue
operating the highways. The transaction completes an asset recycling process
initiated in 2012.

The transaction is subject to customary closing conditions and approval by the
Ministry of Communications and Transportation and the Federal Competition
Commission.

Alonso Quintana, ICA's CEO, said, 'The sale of ICA's investment in RCO is a
clear example of our strategy of selective recycling of capital in our asset
portfolio and creating value for ICA's shareholders. The proceeds are expected
to be used to pay short-term corporate debt that was used to accelerate the
completion of projects, as well as to complete funding the equity commitments
for the new concessioned projects. We are significantly strengthening our
financial position.'

Conference Call Invitation

ICA management will hold a conference call today, Thursday June 20, at 11:00 am
Eastern Time (10:00 am Mexico City time) to provide additional information and
background regarding this announcement. To participate, please dial toll-free
855-370-4217 from the U.S. or [phone] internationally. The conference
ID is 99406679. A replay will be available until June 27, 2013 by calling
toll-free 855-859-2056 from the U.S. or [phone] internationally, again
using conference ID 99406679.

Empresas ICA, S.A.B. de C.V. is Mexico's largest construction and
infrastructure operations company. Founded in 1947, ICA's principal lines of
business are civil and industrial construction and engineering; infrastructure
operations, including airports, toll roads, and water systems; and
homebuilding. For more information visit www.ica.com.mx/ir.

This press release may contain 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 statements.


For more information contact:

Iga Wolska
[e-mail]

Elena Garcia
[e-mail]

[e-mail]
(5255) 5272 9991 ext.3696

Gabriel de la Concha, CIO
[e-mail]

Victor Bravo, CFO
[e-mail]

In the United States:
Daniel Wilson, Zemi Communications
(1212) 689 9560
[e-mail]
News Source: NASDAQ OMX



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Language: English
Company: Empresas ICA, S.A.B. de C.V.


United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US2924482068
WKN:

End of Announcement DGAP News-Service

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