Merger Case M.8894 | Acquisition of Abertis by ACS and Atlantia

Summary:

The European Commission cleared under the EU Merger Regulation the proposed acquisition of Abertis by ACS (together with its subsidiary Hochtief) and Atlantia. It concluded that the proposed transaction would raise no competition concerns.

The transaction was finalised in November 2018.

Further information:

The Commission had already approved without conditions the proposed acquisition of Abertis by Atlantia and later, the same took place regarding a competing proposal by Hochtief to acquire Abertis. Subsequently, the involved companies entered into an investment agreement by which they decided to proceed instead with a joint investment in Abertis.

The transaction was notified to the Commission in June 2018.

• Primary Source

European Commission: Press Release, 06.07.18: Commission approves the proposed acquisition of Abertis by ACS and Atlantia http://europa.eu/rapid/press-release_IP-18-4392_en.htm

Bloomberg, 13.03.18: Benettons, ACS Declare Truce With $23 Billion Deal for Abertis https://www.bloomberg.com/news/articles/2018-03-13/benettons-said-to-firm-deal-with-spain-s-perez-to-buy-abertis

Reuters, 13.03.18: Italy's Atlantia joins ACS to end $22 billion battle for Spain's Abertis https://uk.reuters.com/article/idUKKCN1GP2R4

Reuters, 13.09.18: ACS, Atlantia pursue Abertis deal despite bridge disaster https://uk.reuters.com/article/idUKKCN1LT1OO

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