MADRID—Spanish construction giant Actividades de Construccion y Servicios SA Thursday said it wants to buy a majority stake in German construction-services provider Hochtief AG, a move that would give it a better geographical reach and allow it to achieve cost cuts and synergies.

ACS has been Hochtief’s largest shareholder for almost four years and owns nearly 30% of its stock, but believes a controlling stake would allow it to generate more value from its investment.  To read more, please follow this link.