* Completes acquisition of 60 pct of OHL Brasil
* To launch bid for remaining 40 pct in coming weeks
By Carlos Ruano
MADRID, Dec 4 Spanish infrastructure firm
Abertis and Canadian fund Brookfield said they
will launch a bid for the remaining 40 percent of OHL Brasil
in coming weeks to comply with takeover rules.
Abertis and Brookfield finalised the purchase of 60 percent
of OHL Brasil from its Spanish owner OHL on Tuesday in
a deal worth 2.5 billion euros ($3.3 billion). Brazilian
regulation now obliges them to launch a full bid.
Abertis - which manages tollways, airports and
telecommunication assets - has been diversifying away from its
recession-hit home market of Spain.
Investors in OHL Brasil who do accept the bid will receive a
combination of cash and Abertis shares at no premium and will
have to keep the shares for a minimum of one year.
Abertis, which wants to keep OHL Brasil listed on the stock
market, agreed to buy a majority stake in the company from its
parent in April as part of a deal using its own shares and
taking on 504 million euros of debt.
Following Tuesday's deal, Spanish builder OHL will own 15
percent of Abertis and have a board seat. The deal also includes
the purchase of OHL's motorway concessions in Chile for 204
million euros, which Abertis said it hopes to complete this
Despite an initial increase in Abertis' debt due to these
deals, the company expects to end 2013 with net debt close to
the 14.5 billion euros it had in 2009, Chief Executive Francisco
Reynes told journalists.