Bks, CVC Expect To Close Funding For Abertis Deal Next Week - Sources
July 06 2010 - 9:18AM
Dow Jones News
Abertis Infraestructuras SA's (ABE.MC) top shareholders and
private-equity firm CVC Capital Partners Ltd. expect to secure
financing needed to buy out all Abertis shares as early as next
week, two people with knowledge of the situation said Tuesday.
"ACS, La Caixa and CVC are discussing a financing worth up to
EUR7 billion," one person said. "The financing will be equally
divided among the 14 banks currently involved in the talks."
Construction giant Actividades de Construccion y Servicios SA
(ACS.MC) and partner La Caixa, the country's largest savings bank
by assets are the top shareholders in Abertis.
ACS and La Caixa are studying a potential buyout of all Abertis
shares in partnership with CVC, the two companies said in filings
with the Spanish regulator Monday.
Mediobanca, the Italian merchant bank that is acting as sole
advisor for the three players, is one of the 14 banks involved in
the deal together with U.S. banking giant Citi and Swiss peer UBS
AG (UBS).
Spanish bank Banco Bilbao Vizcaya Argentaria isn't involved in
the deal, the same people said, while other Spanish, Italian,
French and U.K. banks are in advanced talks with Mediobanca,
another person added.
An ACS spokesman declined to comment Tuesday, La Caixa officials
weren't immediately reachable for a comment.
-By Sabrina Cohen, Dow Jones Newswires, +39 02 5821 9906;
sabrina.cohen@dowjones.com
(Santiago Perez contributed to the article.)
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