Finance
Acciona finds no irregularities in contracts mentioned in Spanish graft probe
Published by Global Banking & Finance Review®
Posted on June 26, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 26, 2025
2 min readLast updated: January 23, 2026
Acciona reports no irregularities in contracts amid a Spanish corruption probe, involving a former employee and Servinabar 2000, affecting the Socialist party.
MADRID (Reuters) -Spanish construction company Acciona said on Thursday it had found no evidence of irregularities in public works contracts at the centre of a corruption investigation that has rocked the ruling Socialist party.
The case relates to a former employee who left Acciona in 2021 and who contracted Servinabar 2000 - a company being investigated by police for alleged corruption - as a partner in a joint venture, Acciona CEO Jose Manuel Entrecanales told the company's annual shareholder meeting.
Acciona has more than 30,000 such partners, he said.
Servinabar has said it has not committed any crimes, according to local media. Reuters has not been able to reach Servinabar for comment.
The case has roiled Spanish politics, with Prime Minister Pedro Sanchez promising an overhaul of his party after media published a police report that included recordings showing former members of his inner circle appearing to discuss kickbacks on public infrastructure projects.
The police have not confirmed the contents of the leaked report, of which Reuters has seen a copy.
Acciona said its legal team had found no evidence of bribery payments or of any irregularities in the awarding of its contracts mentioned in the report. No complaints have been lodged by other companies regarding the tenders in various Spanish regions, the company added.
Last week, Santos Cerdan stepped down as number three in the Socialist Party after the leaked recordings appeared to show him discussing bribes with former Transport Minister Jose Luis Abalos. Both have insisted they are innocent and suggested the recordings could have been manipulated.
At least three shareholders raised concerns about the investigation at Acciona's annual meeting, but Entrecanales said the probe was unlikely to impact the company's Spanish construction business, which accounts for just 3% of revenues at its global construction business.
Acciona has begun terminating contracts with Servinabar and has dismissed the head of its construction department in Spain for failing to adequately supervise the former employee, it said.
(Reporting by Corina Pons. Editing by Charlie Devereux and Mark Potter)
Acciona stated that its legal team found no evidence of bribery payments or irregularities in the awarding of its contracts mentioned in the report.
The investigation involves a former employee of Acciona who contracted Servinabar 2000, a company under police investigation for alleged corruption.
Acciona has begun terminating contracts with Servinabar and has dismissed the head of its construction department in Spain for inadequate supervision.
The case has caused significant political turmoil, prompting Prime Minister Pedro Sanchez to promise an overhaul of his party following the release of a police report.
At least three shareholders expressed concerns about the ongoing investigation during Acciona's annual meeting.
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