LOS ANGELES--(BUSINESS WIRE)--Apr. 3, 2017--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170403005267/en/
Source: AECOM
AECOM
Media:
Brendan Ranson-Walsh, 1-212-739-7212
Vice
President, Global External Communications
Brendan.Ranson-Walsh@aecom.com
or
Investors:
Will
Gabrielski, 1-213-593-8208
Vice President, Investor Relations
William.Gabrielski@aecom.com
