Announced
Completed
Financials
Tags
toll roads management
toll road
Toll Roads
Spain
Public
Acquisition
Single Bidder
Completed
Friendly
Majority
Synopsis
Atlantia, ACS and Hochtief completed the acquisition of Abertis Infraestructuras, a Spanish corporation managing toll roads and telecommunication infrastructures. Atlantia, ACS and Hochtief acquired indirectly, respectively, 50% plus one share, 30% and 20% less one share of Abertis. A total of €16.5bn was invested by the parties into Abertis, to acquire 98.7% of its issued share capital. Financing package for the deal includes a €3bn amortising term loan, a €4.7bn bridge-to-bond facility and a €2.2bn bridge-to-disposal facility. Before being delisted from Madrid Stock Exchange, parties acquired at a price per share equal to €18.36, the entire 98.7% interest in the Abertis share capital held by Hochtief. In the separate transaction under the same agreement, Atlantia bought 23.9% of Hochtief share capital from ACS at a price per share equal to €143.04 for a total consideration of €2.4bn.
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