Acciona Unscathed Amid Corruption Turmoil in Spanish Politics

Acciona, a Spanish construction company, has declared it found no signs of misconduct in public works contracts implicated in a corruption case affecting Spain's ruling Socialist party. The controversy centers on a former employee's ties with Servinabar 2000, a partner in a joint venture currently under police investigation for alleged corruption.

The developing case has stirred Spanish political waters, pushing Prime Minister Pedro Sanchez toward a significant party reform after a police report allegedly reflected conversations about kickbacks concerning public projects. The leaked report, seen by Reuters, has not been officially verified by the police.

Despite these tensions, Acciona's legal team claims to have found no proof of bribery or contract irregularities. The company maintains its Spanish construction segment—representing a minor share of its global business—remains steady, with impacts expected to be minimal. Acciona has discontinued agreements with Servinabar and dismissed its Spanish construction director over supervisory lapses.

(With inputs from agencies.)