NOTE! This site uses cookies

By continuing to browse the site you are agreeing to our use of cookies. For more detalis, see Read more

Accept

What are you looking for?

La Caixa and ACS may buy transport infrastructure company Abertis

The two largest Abertis shareholders study the possibility of a leveraged buy-out through the investing firm CVC. The operation is worthy 25 billion euros, according to the Financial Times. La Caixa and ACS own 55% of Abertis.

SHARE

06 July 2010 05:44 PM

by

ACN
London (CNA).- Abertis has seen its shares suspended in the stock market this Monday afternoon after rising 12% following the news of the possible buy-out. Abertis is the most important Spanish company in the highway business. It also owns important transport infrastructures such as airports, highways and parking venues in the UK, Italy, France, the US and South America, among other places.
The financial operation is led by the main Catalan financial institution, La Caixa and the construction company, ACS, and chaired by the football club Real Madrid’s President, Florentino Fernández. They plan to restructure Abertis’ capital and to sell non-core assets. La Caixa and ACS currently own 55% of Abertis capital. The buy-out is worth 25 billion euros and, in case of success, the two companies will own the totality of the Abertis.

When the Financial Times reported on the possible buy-out in its online edition, shares increased by 12%, making the Spanish Regulation Authority of the Stock Market suspend Abertis’ shares. The operation could be announced in the coming days, although it may be dropped.

SHARE

  • Salvador Alemany, chairman and CEO of Abertis.

  • La Caixa and ACS may buy out infrastructure company Abertis.

  • Salvador Alemany, chairman and CEO of Abertis.
  • La Caixa and ACS may buy out infrastructure company Abertis.