Isolux Corsan Analyses the Flotation of its Subsidiary, Isolux Infrastructure, on the Brazilian Stock Market to Grow its Concessions Business

MADRID, August 23, 2011 /PRNewswire/ --

• Isolux Infrastructure, with corporate headquarters in São Paulo, concentrates the Group's businesses in toll-road, transmission-line and PV-energy concessions.
• Last Friday the chairman of Isolux Corsán, Luis Delso, met with the president of Brazil, Dilma Rousseff, to tell her of his plans for the company
• The capex invested in the projects in which Isolux Infrastructure is involved currently stands at more than €7.5 bn.

Isolux Corsán is studying the possibility of listing the shares of its subsidiary, Isolux Infrastructure, on the São Paolo stock market (BM&FBOVESPA). Isolux Infrastructure yesterday filed a draft offering circular with the Brazilian securities commission (CMV). The transaction would be kicked off with an initial public offering (IPO) of shares to finance the growth of the Group's concessions businesses in Brazil and in the other countries where Isolux Infrastructure operates: India, Italy, Spain, the USA, Mexico and Peru.

Isolux Corsán has already located Isolux Infrastructure's corporate headquarters in São Paolo, following a decision that the Isolux Corsán Group chairman, Luis Delso, was able to explain personally to the Brazilian president, Dilma Rousseff, when they met last Friday and discussed the company's strategy plans. Brazil, where the Group has been operating since 2000, accounts for 50% of the capital expenditure (capex) already approved for the Isolux Infrastructure concession projects.

This transaction forms part of Isolux Corsán's strategy to globally develop and diversify its lines of business, which it has been pursuing for five years. It will allow the Group to raise the capital it needs to grow its concessions business in its target countries over the next few years.

Isolux Infrastructure manages and operates the Isolux Corsán Group concession infrastructure projects in three major sectors: Toll-road concessions. It runs more than 1,600 km under concession, distributed over countries such as India (710 km in four concessions), Brazil (680 km), Mexico (155 km) and Spain (64 km). Transmission-line concessions. It manages and operates over 5,200 km in Brazil (1,600 km) and the USA (605 km in Texas). Photovoltaic-solar energy-generation. The company is one of the largest generators of photovoltaic solar energy in the world. It has an installed capacity of 168 MW of clean energy at the 42 PV-solar power plants that it operates. The company has a further 60 MW under construction.

The capex invested in the projects in which Isolux Infrastructure is involved currently stands at more than €7.5 bn.

Advisors:

The offering will be coordinated by Santander Global Banking & Markets and Credit Suisse.

About Isolux Corsán

Isolux Corsán is a benchmark in the engineering, construction and operation of large infrastructure projects under concession worldwide. It operates in over 30 countries on four continents. It also has long-standing experience in the construction and maintenance of major infrastructure projects: toll roads; railways; airports, civil-engineering, hydraulic and maritime engineering works and residential and non-residential buildings. In the power industry, Isolux Corsán is one of the largest construction companies world-wide for EPC (engineering, procurement & construction) projects in the photovoltaic sector, with over 267 MW under operation in 2010. It is a key player amongst the largest companies involved in building EPC power plants, with 1,500 MW under construction. It is also involved in industrial processes, with turnkey projects in the oil & gas industry and biofuel plants. In the concessions industry, apart from the concessions operated by Isolux Infrastructure, the Group constructs and operates over 21,000 car-parking spaces. In 2010, the company reported over €3.24 bn in revenues, an EBITDA of €311 m and a backlog of €30.18 billion. For further information: http://www.isoluxcorsan.com/

About Isolux Infrastructure

Isolux Infrastructure is the Isolux Corsán subsidiary responsible for the management and operation of the Group's concession assets. These include concessions in roads and in power. The capex invested in the projects in which Isolux Infrastructure is involved currently stands at more than €7.5 bn. Isolux Infrastructure's assets are divided into three categories: Toll-road concession: it owns more than 1,600 km under concession, distributed over countries such as India (710 km in four concessions), Brazil (680 km), Mexico (155 km) and Spain (64 km). Concessions in transmission lines: it manages and operates more than 5,237 km between Brazil (3,032 km in five concessions), India (1,600 km) and the USA (605 km). Generation of solar PV power: one of the market leaders in solar PV generation, operating 42 photovoltaic power plants with an installed capacity of 168 MW, and with a further 60 MW under construction. Isolux Infrastructure's geographical diversification enables it to operate efficiently in emerging economies (India, Brazil, Mexico and Peru) and in consolidated economies (USA, Italy, Spain). This combination between developing and mature markets endows the new company with enormous versatility, so that it can respond immediately to the latest market conditions.

This press release is not an offer of securities for sale in the United States.  Securities may not be sold in the United States unless they are registered or are exempt from registration.  Isolux does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about Isolux and its management, as well as financial statements.  Copies of this press release are not being, and should not be, distributed in or sent into the United States.

It may be unlawful to distribute these materials in certain jurisdictions.  These materials are not for distribution in Canada, Japan or Australia.  The information in these materials does not constitute an offer of securities for sale in Canada, Japan or Australia.

SOURCE Isolux Corsan