March 12, 2018 / 4:40 PM / 4 days ago

Atlantia, ACS close to deal on joint control of Abertis: Italian sources

MILAN/ROME/MADRID (Reuters) - Italy’s Atlantia (ATL.MI) and Spain’s ACS (ACS.MC) are close to an agreement to take joint control of Spanish toll-road group Abertis (ABE.MC), two Italian sources said.

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

Such a deal could bring an end to a bidding war over Abertis between Atlantia and ACS, through its German unit Hochtief (HOTG.DE).

ACS and Atlantia are “near to an agreement to create a new company that would take control of Abertis jointly,” said one source, adding the two parties were not discussing a possible break-up of the Spanish group in these phase.

One of the sources said the groups were working at full steam to reach a final deal in the coming days.

    ACS declined to comment on the issue.

    Reporting by Francesca Landini in Milan, Stefano Bernabei in Rome, Jose Rodriguez in Madrid

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