ACS Reduces Ownership Stake in Canadian Highway

Reuters reports, “Spanish builder ACS (ACS.MC) has sold the bulk of its 50 percent stake in Canada’s South Fraser Perimeter Road. . . . ACS, which runs other toll roads in Canada, said it would retain a minority stake in the project. Its holding now stands at 12.5 percent. It said it had signed a service contract to manage the highway and maintain it.” Buyers are Ontario-based infrastructure firm Connor, Clark & Lunn and Quebec-based pension fund Desjardins.