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Atlantia may announce bid for Abertis later on Friday - sources
May 12, 2017 / 10:34 AM / 7 months ago

Atlantia may announce bid for Abertis later on Friday - sources

MILAN/ROME, May 12 (Reuters) - Italian motorway and airport operator Atlantia could announce a takeover of Spanish rival Abertis as early as Friday night, two sources close to the matter said.

“It could be tonight but there is still some uncertainty,” one of the sources said.

Atlantia’s board is expected to review at a meeting on Friday the terms of the bid that would help it create Europe’s biggest toll-road operator.

Four banks have arranged an 11.5 billion euro ($12.5 billion) financing for the deal, the source said.

The package includes a medium-term loan, an 18-month loan that would be repaid by issuing bonds and a residual part to be reimbursed with proceeds from the agreed sale of a stake in domestic unit Autostrade per l‘Italia.

Atlantia had no comment. ($1 = 0.9198 euros) (Reporting by Paola Arosio and Stefano Bernabei; writing by Francesca Landini, editing by Valentina Za)

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