Abertis splits its activity into two different companies
One company will run the highway, airports and telecommunications business; another company will control the parking and logistic services. Shareholder distribution will not be changed. Abertis is a Catalan transport and communication services multinational, present in many countries.
Barcelona (ACN).- Abertis will re-organise all its activities into two different companies: Abertis Infraestructures and Saba Infraestructures. The first one will concentrate Abestis\u2019 business on highways, airports and telecommunications. Saba Infraestructures will keep the parking and the logistic parks. Abertis will keep the current shareholder distribution and it will maintain its presence at the Ibex-35 index (top 35 companies in the Spanish stock-exchange market). Abertis will offer the option to shareholders to get an extraordinary bonus in cash or Saba shares. Saba Infraestructures will not be traded in the stock exchange and, presumably, will be open to new investors. Salvador Alemany, the Chairman of Abertis, told a press conference that \u201Cit is not a disinvestment nor a sale operation\u201D, it is a \u201Cfostering\u201D of Abertis\u2019 five main activities.
The group\u2019s president, Salvador Alemany, said that Abertis considered the option of selling the business that Saba will run, but it preferred to look for \u201Cthe way with which Abertis\u2019 shareholders would be at the heart of the new entity\u2019s shares\u201D. Alemany is confident that \u201Cold shareholders will become\u201D Saba shareholders. He also explained that those preferring to get cash from the extraordinary bonus will enable the inclusion of new shareholders. The managing team for be kept and split among the two new companies.
The operation of splitting into two different companies the group\u2019s activities comes from the need to look for its \u201Cown resources\u201D. According to Alemany, the other reason is more related to the type of business. Saba will run smaller business, often linked to municipal concessions. The last reason is the search for new capital, after \u201Csplendid years\u201D for Abertis. Saba, which will run the parking and logistic parks businesses, represents 4.6% of the group\u2019s consolidated revenues and 5.8% of the total assets. Abertis CEO, Francisco Reynés, said that Abertis will keep a tight control of Saba for a \u201Cnot necessary long time, but for as long as necessary\u201D. This control will be made by a pack of shares.
\u201CA pleasure\u201D to participate in Barcelona\u2019s airport future if the offer \u201Cis good\u201D
Regarding an eventual participation of Abertis in the future privatisation of Barcelona-El Prat Airport, Alemany said that it would be \u201Ca pleasure\u201D to have a role in the operation if \u201Cthe terms of reference and the offer are good\u201D, as the company would do in any other call for tenders.