Concessions head quits as ACS nears 40% of Hochtief

Peter Noé, head of Hochtief Concessions, has tendered his resignation just as ACS announced that it now holds 37.6% of Hochtief. Once it crossed the 30% treshold, ACS knew it was free to acquire majority ownership of Hochtief on the open market, without having to pay a control premium.

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