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Spain: Gov approves the takeover of Atlantia on Abertis

By  |  January 28, 2018

The Spanish government has approved a takeover bid by Italian motorway operator Atlantia for Spanish rival Abertis, the government’s spokesman Inigo Mendez de Vigo said on Friday, January 26.

Atlantia is competing against Hochtief, the German arm of a Spanish builder, in a takeover battle for Abertis.

Through the takeover, Atlantia, controlled by the Benetton family, plans to create the world’s biggest toll road operator with a combined market value of more than €40 billion (US$49.7 billion), though the offer has met with political hostility from Madrid.

After the CNMC cleared Atlantia’s offer last year, the Spanish government asked the regulator to revoke the approval because the Italian group had not sought government permission to acquire Hispasat, Abertis’ satellite business, which is considered a strategic asset.

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