Villar Mir to Back Atlatia's Bid for Abertis -Source
October 13 2017 - 10:20AM
Dow Jones News
MADRID (EFE Dow Jones)--Villar Mir Group plans to support the
tender offer made by Italy's Atlantia SpA (ATL.MI) in June to take
over all of Abertis Infraestructuras SA (ABE.MC) for more than 16.3
billion euros ($19.3 billion), a source close to the company said
on Friday.
Approval from the Spanish group, which holds more than 1.7%
stake in Abertis, comes after The Children's Investment Fund
Management backed the bid earlier this week.
The board of Abertis will issue a mandatory report in the next
seven days in which it will recommend whether or not to accept the
bid and explain its point of view, in accordance with Spanish
regulations. The acceptance period for the offer ends on Oct. 24.
Criteria Caixa, which holds 24.2% of Abertis' capital and is its
main shareholder, is expected to issue a statement on its position
regarding the deal, a spokesperson for the banking foundation La
Caixa said.
At 12:10 GMT, Abertis shares fell 0.1% to EUR17.42.
This story was translated in whole or in part from a
Spanish-language version initially published by EFE-Dow Jones, a
partner of Dow Jones & Co.
-Escriba a Paula Lacruz a paula.lacruz@dowjones.com
(END) Dow Jones Newswires
October 13, 2017 10:05 ET (14:05 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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