ACS Expects Abertis Deal to Close in Third Quarter
May 03 2018 - 8:03AM
Dow Jones News
By Nathan Allen
Actividades de Construccion y Servicios SA's (ACS.MC) and
Atlantia SpA's (ATL.MI) planned joint takeover of Abertis
Infraestructuras SA (ABE.MC) is on course to close in the third
quarter, ACS Chief Executive Marcelino Fernandez Verdes said
Thursday.
"If the offer is successful, it is expected that settlement of
the offer will occur during mid-May, and the closing of the
transaction is likely to take place in the third quarter of 2018,"
Mr. Verdes said at the shareholders' meeting of ACS's German
subsidiary Hochtief AG (HOT.XE).
Shareholders in Abertis have until May 8 to subscribe to the
18.4 billion euro ($22.05 billion) offer, which ACS and Italy's
Atlantia SpA (ATL.MI) jointly launched through Hochtief in
March.
Read more about the Abertis takeover at
https://on.wsj.com/2EmQbEo (WSJ paywall) or http://bit.ly/2HdHGRR
(NewsPlus).
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
May 03, 2018 07:48 ET (11:48 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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