ICA Looks to Shed Homebuilding Unit

Mexico’s Empresas ICA is looking to sell its ViveICA homebuilding unit, a business providing only marginal revenues and EBITDA to the builder and engineering group. “It is indeed subject to be sold, as any asset within the portfolio that doesn’t provide a substantial component to the construction division,” a source at the company says, noting ViveICA provides less than 5% of revenues and Ebitda. ICA’s Ebidta in 2011 was MXP6.59bn ($500m), according to its financial statements.