ICA and CDPQ Complete Ps. 3,014 Million Transaction to Create ICA OVT, an Operational Platform Dedicated to Transport Projects in Mexico

Project Initially Includes Four Mexican Tollroad and Highway Concessions, Totaling 433 km of Highways Across Mexico

MONTREAL and MEXICO CITY, June 19, 2015 (GLOBE NEWSWIRE) -- Empresas ICA, S.A.B. de C.V. (BMV:ICA) (NYSE:ICA), the largest infrastructure and construction company in Mexico, and CDPQ (Caisse de dépôt et placement du Québec), one of Canada's leading institutional fund managers, announced today the completion of the transaction to create an operational platform that owns the concessions for four of ICA's operational toll roads and highways.

The operational platform, ICA Operadora de Vías Terrestres ("ICA OVT") is a newly formed joint venture company. ICA transferred its ownership interest in the concessionaires for the four projects to ICA OVT. Under the terms of the transaction, ICA owns 51% of the platform and CDPQ 49%. For its equity interest, CDPQ is paying ICA Ps. 3,014 million which will in turn be principally used to prepay ICA's short term corporate debt.

ICA and CDPQ will operate the joint venture with a focus on participating in the operation and acquisition of highway and toll-road infrastructure assets in Mexico.  ICA will continue to be responsible for the operation of the highways and for all maintenance requirements. The four highways and tollroads included in the initial transaction are, Mayab tollroad, Rioverde - Ciudad Valles highway, La Piedad Bypass and the Acapulco Tunnel.

Alonso Quintana, ICA's CEO, noted, "ICA is pleased to form this partnership with CDPQ, a world-class fund manager.  This transaction enables ICA to monetize a significant portion of our investment in these mature assets, and redeploy the capital to reduce corporate debt and fund our investments in the next wave of infrastructure development that is occurring in Mexico. This transaction represents the first step in the creation of a platform that, by incorporating other similar assets as they mature, will allow us to continue to grow in a balanced manner, while at the same time systematically reducing our leverage and creating value for ICA shareholders."