April 1 (Reuters) - France’s Vinci has agreed to buy the energy business of Spain’s ACS for 4.9 billion euros ($5.75 billion) in cash, down slightly from its offer in October.
Vinci and ACS will also form a 51%-49% joint venture to acquire mature renewables assets, the French company said.
Shares in Vinci were up 3% to 89.9 euros at 0919 GMT, while ACS stock was flat, having jumped 26% when the deal was first announced.
Vinci made a non-binding offer to buy ACS’s industrial unit Cobra for 5.2 billion euros in October.
$1 = 0.8522 euros Reporting by Anait Miridzhanian; editing by Jason Neely