ACS sells stake in Abertis to CVC
With a 15.5% stake in the Catalan infrastructure group Abertis, the private equity group CVC will become the company?s second largest shareholder
The Spanish construction company ACS, owned by Real Madrid FC President, Florentino Pérez, will sell part of its 25.8% stake in the Catalan group Abertis to the Dutch company CVC. Criteria, a subsidiary of the Catalan savings bank La Caixa, which has a 25.04% share in Abertis, will thus become the lead shareholder.
The acquisition is a complicated two-part deal, which also involves Trebol Holdings S.A.R.L. Trebol Holdings is owned by CVC, and Admirabilia S.L., an affiliate of ACS.
Together with a group of banks -La Caixa, Santander, Mediobanca and Societe General- ACS has made an agreement to partly finance the operation via a 1,500 million euro fund. Criteria has already stated that agrees to the ACS-lead deal, which will allow ACS to reduce its debts and to focus on its role in the energy firm Iberdrola.
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