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ACS and Atlanticia confirm talks to share Abertis

The Spanish and Italian group negotiate a friendly agreement that puts an end to the takeover bids on the concessionaire

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ACS and Atlanticia confirm talks to share Abertis

ACS and Atlanticia have recognized this Thursday that y are in "conversations" to reach a friendly agreement on OPA that both groups have launched on Abertis, as y have communicated this morning to National commission of stock Market (CNMV) in two facts Relevant.

"ACS is in talks with Atlanticia on takeover of Abertis without having reached any agreement to date," says concise fact relevant to regulator of company that chairs Florentino Perez. An identical statement has also been sent by Italian Atlanticia, leaving passage of several information published today that pointed to a solution negotiated in takeover bids by concessionaire.

ACS and Atlanticia have begun talks for two weeks to seal a pact that allows m to share assets of Spanish Highway Company and end takeover of bids that has produced an increase that can make untenable Financially, acquisition of Abertis, which has shot 35% in stock market since Italian company announced its proposal on May 2, 2017. The subsequent announcement of takeover of Spanish construction company through Hochtief, its German subsidiary, at 18.74 euros per title, has led concessionaire to quote up to 19.4 euros.

Asset sharing

The agreement would be to launch a joint takeover bid by Abertis and, once it was successful, to distribute national and international assets between two groups, with sale of non-strategic assets such as Cellnex or HISPASAT, as indicated in aforementioned information.

Abertis ' bid began in mid-April, when Atlanticia expressed interest in exploring a possible corporate operation. After a month of speculation, Italian group announced on 15 May launch of a "friendly" OPA on 100% of Abertis at a price of 16.5 euros per share, which implies valuing concessionaire in 16,341,000,000. On October 18, ACS presented its OPA through Hochtief to 18.76 euros per share, price that

ACS ' titles have been shot at opening of market by about 7% with this information, while those of Abertis go back 4% and Atlanticia, meanwhile, up 1.2% in Milan stock Exchange.


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