Sell shares, reduce leverage and get in the best shape possible to take advantage of the economic upswing that is forecasted for 2014. This is the strategy that most companies listed on the Ibex will follow this year as credit continues to trickle into the Spanish economy.
The major construction companies ACS and Acciona have clearly stated the course they plan to take. ACS will sell shares in order to trim its debt from nearly 5 billion to just 3 billion euros by the end of the year, and the second will pull away from between 160 and 170 million euros in strategic investments to compensate for the measures that the government adopted in the energy space. The companies will take painful yet needed steps in order to get ready for upcoming job cuts.
