AECOM announces definitive agreement to sell equity interest in first AECOM Capital investment
April 03 2017 - 8:30AM
Business Wire
AECOM (NYSE:ACM), a premier, fully integrated global
infrastructure firm, announced that AECOM Capital has entered into
a definitive agreement to sell its equity interest in its first
investment. The transaction is expected to close in AECOM's fiscal
third quarter, subject to customary closing and other financial
conditions, and will contribute approximately $0.17 to EPS in that
quarter.
"This is an important milestone, and the first of what we expect
to be many successful returns from our AECOM Capital investments,"
said Michael S. Burke, AECOM’s chairman and chief executive
officer. "In tandem with our partners, we successfully developed
high-value real estate, leveraging both our equity capital and
construction services. This effort further validates our design,
build, finance and operate vision and reinforces AECOM’s reputation
as a development partner of choice."
Since launching AECOM Capital in 2013, AECOM has committed
approximately $200 million in 15 projects with total development
value in excess of $3.5 billion. Projects primarily include
multifamily, condo, hotel, office, and mixed use assets across the
U.S. AECOM Capital is actively seeking to expand into public
private partnerships and the industrial and power markets. In
addition to providing equity, AECOM is differentiated from peers by
being able to deliver its vast design and construction
services.
About AECOM
AECOM is built to deliver a better world. We design, build,
finance and operate infrastructure assets for governments,
businesses and organizations in more than 150 countries. As a fully
integrated firm, we connect knowledge and experience across our
global network of experts to help clients solve their most complex
challenges. From high-performance buildings and infrastructure, to
resilient communities and environments, to stable and secure
nations, our work is transformative, differentiated and vital.
A Fortune 500 firm, AECOM had revenue of approximately
$17.4 billion during fiscal year 2016. See how we deliver what
others can only imagine at aecom.com and @AECOM.
Forward-Looking Statements: All statements in this press release
other than statements of historical fact are "forward-looking
statements" for purposes of federal and state securities laws,
including statements relating to the sale and expected close of the
AECOM Capital equity interest as well as its expected contribution
to EPS. Actual results could differ materially from those projected
or assumed in any of our forward-looking statements. Important
factors that could cause actual results to differ materially from
our forward-looking statements are set forth in our quarterly
report on Form 10-Q for the fiscal quarter ended Dec. 31, 2016, and
our other reports filed with the U.S. Securities and Exchange
Commission. AECOM does not intend, and undertakes no obligation, to
update any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170403005267/en/
AECOMMedia:Brendan Ranson-Walsh,
1-212-739-7212Vice President, Global External
CommunicationsBrendan.Ranson-Walsh@aecom.comorInvestors:Will
Gabrielski, 1-213-593-8208Vice President, Investor
RelationsWilliam.Gabrielski@aecom.com
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