Spanish Government Approves Atlantia's Abertis Bid
26 Janvier 2018 - 2:33PM
Dow Jones News
By Nathan Allen
The Spanish government has given approval to Atlantia SpA
(ATL.MI) to proceed with its takeover bid for Abertis
Infraestructuras SA (ABE.MC), spokesman Inigo Mendez de Vigo said
at a press conference Friday.
Atlantia's bid, which values Abertis at 16.3 billion euros
($20.26 billion), received approval from the Spanish market
regulator, the CNMV, in October.
However, the Spanish ministry of public works and ministry of
energy later said that Atlantia was legally obliged to seek their
approval separately, and that the CNMV shouldn't have approved the
deal without its prior consent.
The government has reportedly put pressure on Abertis
shareholders to accept a rival EUR18.6 billion bid from Germany's
Hochtief AG (HOT.XE), which is owned by Spanish construction
company Actividades de Construccion y Servicios SA (ACS.MC).
Atlantia has previously said it will consider raising its offer
once the Hochtief bid receives approval from Spanish and EU
regulators.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
January 26, 2018 08:18 ET (13:18 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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