A PYMNTS Company

Spain: ACS mulling move to snatch Abertis sale from rival

By  |  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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    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

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.