Brookfield to buy 5 percent of Abertis shares in OHL Brazil deal
MADRID (Reuters) - Spanish toll road operator Abertis (ABE.MC) said on Monday U.S. fund Brookfield Infrastructure (BIP.N) would buy 5 percent of the firm's shares as part of a joint deal to buy a stake in OHL's (OHL.MC) highway assets in Brazil.
Abertis, which announced its partnership with Brookfield in August, said the U.S. fund will buy 4.9 percent of Abertis' shares at 10.68 euros ($13.44) per share, close to the closing price for Madrid-listed Abertis shares on Monday.
Abertis and Brookfield will exchange 10 percent of Abertis' total shares for Participes Brasil, which owns 60 percent of OHL Brasil OHLB3.SA.
Abertis will also pay 10.7 million euros and take on 504 million euros of OHL Brazil's debt.
In a stock market notice, Abertis said the deal should be done before the end of November. The firm is waiting for a decision from Brazilian regulators over whether it would have to bid for the remaining stake of OHL's Brazilian unit. ($1 = 0.7947 euros)
(Reporting by Tomas Cobos and Clare Kane; Editing by Julien Toyer)
- Six people injured when camera catches fire at 30 Rockefeller Plaza
- Israel holds off on escalating Gaza barrage; West wants truce |
- Russia warns Ukraine after shell crosses border |
- 'Excessive' rubbing of engine blades caused F-35 failure: Pentagon
- Exclusive: YouTube weighs funding efforts to boost premium content - sources