March 14, 2018 / 8:18 AM / 2 years ago

Atlantia confirms deal with ACS/Hochtief on Abertis, board to review it

FILE PHOTO: Toll road operator Abertis´headquarters is seen in Barcelona, Spain, October 9, 2017. REUTERS/Eric Gaillard/File Photo

MILAN (Reuters) - Italy’s Atlantia (ATL.MI) confirmed on Wednesday it had reached a preliminary deal with ACS (ACS.MC) and Hochtief (HOTG.DE) over Spanish toll-road operator Abertis, adding its board would meet at 1715 GMT to review the deal.

The Italian motorway and airport operator group, Spanish builder ACS and its German arm Hochtief have agreed conditions under which they will take joint control of Abertis, sources told Reuters on Tuesday evening.

The deal will put an end to a bidding war on Abertis that lasted more than four months. Atlantia will consolidate the acquired Abertis business, one source said, implying the Italian group would have effective control.

Reporting by Francesca Landini; editing by Agnieszka Flak

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