AECOM Acquires Full Ownership of AECOM Hunt JV
Ticker: ACM · Form: 8-K · Filed: Mar 21, 2024 · CIK: 868857
Sentiment: neutral
Topics: acquisition, joint-venture, construction
TL;DR
AECOM just bought out the rest of its JV, bringing the whole construction biz in-house.
AI Summary
On March 21, 2024, AECOM filed an 8-K report to announce the completion of its acquisition of the remaining 50% interest in its joint venture, AECOM Hunt JV, LLC, from Hunt Construction Group, Inc. This transaction brings the entire AECOM Hunt business under AECOM's full ownership. The financial terms of this acquisition were not disclosed in this filing.
Why It Matters
This move consolidates AECOM's construction services under its direct control, potentially streamlining operations and enhancing its market position in the construction sector.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a completed transaction with no immediate negative financial implications mentioned.
Key Players & Entities
- AECOM (company) — Registrant and acquirer
- Hunt Construction Group, Inc. (company) — Seller of remaining interest in JV
- AECOM Hunt JV, LLC (company) — Joint venture acquired
- March 21, 2024 (date) — Date of report and transaction completion
FAQ
What was the specific financial consideration for AECOM's acquisition of the remaining 50% interest in AECOM Hunt JV, LLC?
The filing does not disclose the specific financial terms or dollar amounts involved in the acquisition of the remaining 50% interest in AECOM Hunt JV, LLC.
When did AECOM complete the acquisition of the remaining interest in AECOM Hunt JV, LLC?
AECOM completed the acquisition on March 21, 2024, as reported in the 8-K filing.
What is the full legal name of the joint venture that AECOM acquired the remaining interest in?
The full legal name of the joint venture is AECOM Hunt JV, LLC.
Who was the other party involved in the joint venture prior to AECOM's full acquisition?
Prior to AECOM's full acquisition, the other party involved in the joint venture was Hunt Construction Group, Inc.
What is AECOM's primary business sector as indicated by its SIC code?
AECOM's Standard Industrial Classification (SIC) code is 8711, which corresponds to SERVICES-ENGINEERING SERVICES.
Filing Stats: 478 words · 2 min read · ~2 pages · Grade level 10.5 · Accepted 2024-03-21 06:59:45
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value ACM New York Stock Exchan
- $0.22 — s declared a quarterly cash dividend of $0.22 per share as part of the Company's ongo
Filing Documents
- tm249370d1_8k.htm (8-K) — 25KB
- tm249370d1_ex99-1.htm (EX-99.1) — 7KB
- tm249370d1_ex99-1img001.jpg (GRAPHIC) — 20KB
- 0001104659-24-036928.txt ( ) — 227KB
- acm-20240321.xsd (EX-101.SCH) — 3KB
- acm-20240321_lab.xml (EX-101.LAB) — 33KB
- acm-20240321_pre.xml (EX-101.PRE) — 22KB
- tm249370d1_8k_htm.xml (XML) — 3KB
01
Item 8.01 Other Events. On March 21, 2024, AECOM announced that its Board of Directors has declared a quarterly cash dividend of $0.22 per share as part of the Company's ongoing quarterly dividend program. The dividend is payable on May 10, 2024 to stockholders of record as of the close of business on April 24, 2024. The declaration and payment of future dividends are subject to the sole discretion of the Board of Directors. The press release announcing the declaration of a cash dividend is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits 99.1 Press Release, dated March 21, 2024 entitled "AECOM declares quarterly dividend" 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereto duly authorized. AECOM Dated: March 21, 2024 By: /s/ David Y. Gan David Y. Gan Executive Vice President, Chief Legal Officer