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Atlantia bid for Abertis could come within days - sources
May 9, 2017 / 10:54 AM / 4 months ago

Atlantia bid for Abertis could come within days - sources

MILAN, May 9 (Reuters) - Italian toll road group Atlantia could present a takeover bid on Spanish rival Abertis within days, two sources close to the matter said on Tuesday.

Atlantia, controlled by the Benetton family, confirmed last month it was considering a deal with Abertis providing it was friendly and created shareholder value.

“It’s a matter of days. The offer could come towards the end of this week or early next week,” one of the sources said, adding the two parties were keen to reach an agreement.

A board meeting of Atlantia to discuss first quarter results is set for Friday.

Sources cautioned however the two groups were still discussing the terms of the deal, including the price Atlantia would pay for Abertis shares.

Another source said a financing package worth around 11 billion euros ($12 billion) was ready for the deal.

Atlantia was not immediately available for a comment, while Abertis declined to comment on the issue.

A merger between Atlantia and Abertis would create Europe’s biggest toll road group, with a market value of more than 36 billion euros.

$1 = 0.9186 euros Reporting Pamela Barbaglia in London and Paola Arosio in Milan; writing by Francesca Landini

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