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Wednesday, October 22 2014 @ 08:10 AM EDT

Sacyr Vallehermoso climbs on Panama Canal win

Canal ExpansionBy Steve Goldstein LONDON (MarketWatch) -- Spain's Sacyr Vallehermoso (ES:SYV 10.69, +1.01, +10.43%) rallied nearly 13% in Madrid after leading a winning consortium that included Impregilo (IT:IPG 2.38, -0.05, -1.96%) to build a new set of locks for the Panama Canal. The bid was $3.12 billion, which was lower than the bids from the competing groups. One rival consortium was led by Bechtel, and another included Actividades de Construccion y Servicios (ES:ACS 34.40, +0.19, +0.56%) , Acciona (ES:ANA 82.60, +0.35, +0.43%) , Fomento de Construcciones y Contratos (ES:FCC 27.10, +0.45, +1.69%) and Hochtief (DE:HOT 34.34, +0.72, +2.14%).
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