EU Commission Approves Atlantia's Abertis Bid
October 13 2017 - 5:45AM
Dow Jones News
By Nathan Allen
The European Commission said Friday it has approved Italian
toll-road operator Atlantia SpA's (ATL.MI) proposed takeover of
Spain's Abertis Infraestructuras SA (ABE.MC).
In a press release the Commission said the proposed transaction
raised no competition concerns due to the presence of significant
competitors in the market, a lack of geographical overlaps between
the two companies' road networks and the fact that toll-road
concessions are a highly regulated market.
Atlantia received approval for its 16.3 billion euros ($19.3
billion) offer from the Spanish market regulator on Monday. Any
further suitors now have until Oct. 24 to submit rival bids.
Various media sources have reported that Spain's Actividades de
Construccion y Servicios SA (ACS.MC) is likely to launch a
counterbid next week.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
October 13, 2017 05:30 ET (09:30 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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