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Spain: ACS mulling move to snatch Abertis sale from rival

 |  July 25, 2017

Spanish construction group ACS has informed the National Securities Market Commission (CNMV) that it is considering the possibility of snatching the purchase of highway-builder Abertis from its rival, Atlantia, considering a counter-offer of €16.5 (US$19.2) per share.

The Public Offer for Atlantia for 100% control of Abertis has placed the Spanish motorway group in the cross-sights of major national and international infrastructure groups. ACS has been working for a number of weeks in a Abertis purchase operation, for which it needs the necessary funds to out-bid Atlantia’s offer, which values ​​Abertis at €16.3 billion.

The government’s spokesman, Íñigo Méndez de Vigo, has pointed out that the government is “aware” of this possibility, since Hispasat (in which Abertis has a stake) is a strategic asset for Spain. “We are facing management by private companies, they are the ones who have to make a decision, and this is a study announcement, we have to see what decision is finally made,” he said.

The acquisition of Abertis by ACS would give rise to a new global infrastructure construction giant with a combined turnover of €36.9 billion (US $ 42.9 billion), although it will also have to carry the burden of a debt of more than €16 billion (US $ 18.6billion ).

Full Content: El Economista

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