Finance
Acciona finds no irregularities in contracts mentioned in Spanish graft probe
Published by Global Banking and Finance Review
Posted on June 26, 2025
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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)