Dragados, from the Spanish group ACS, sold its shareholding in the construction company to a group of local investors who paid US$2 million.
Dragados, a company of the Spanish group ACS, led by the president of Real Madrid, Florentino Pérez, sold its participation in the Argentine construction firm Dycasa and in this way completes its withdrawal from the country.
In a communication to the local Stock Exchange, Dycasa explained that The Spanish Dragados sold 66.1% of the shares and 88.8% of the voting rights it had over the firm to Inversora Mercedes SA, for a total of US$2 million.
Inversora Mercedes, a recently formed company made up of Juan Ignacio Abuchdid, founder of GrupoIEB (Investing in the Stock Market), specialized in finance; Martin Pablo Gandaraowner of the Atomik clothing brand, and Ezequiel Martin Fernandezdirector of Natal Investments. According to the communication to the National Securities Commission (CNV), Abuchdid will have 45.25%; Fernández, 30% and Gándara, 24.75% of the company, the remaining 34% is listed on the Stock Exchange.
Dycasa is specialized in the construction of large public and private infrastructures and has 50 years of experience in Argentina. The truth is that with the cancellation of public works after the arrival of Javier Milei to the presidency, the firm entered a severe crisis.
At first he tried to convert to private work, but the results were not positive.. According to official data, construction activity in Argentina has accumulated a collapse of 30.3% in the first eight months, which places the sector as one of the most affected by the economic recession, high inflation, and loss of power. of household purchases.
The truth is that the crisis of the construction firm has been going on for a long time, last year the Buenos Aires Stock Exchange (BCBA) warned the board of Dycasa was operating with negative equity. In this framework, in its annual balance sheet closed at the end of 2023 it reported a loss of more than $7.6 billion.
More here in time, In March of this year, the company closed its plant located in the Buenos Aires town of San Pedro and laid off all its employees. There it had a staff of qualified labor such as mechanics, electricians and foremen, among others.
Source: Ambito
