The Cabinet has approved the takeover bid for Abertis launched by Atlantia. “The offer meets the legal requirements and the conditions, so the goverment has authorised the operation,” the minister Íñigo Méndez de Vigo said during the press conference after the Cabinet Meeting.
So the government has given the green light to the Italian firm’s offer just a little over a month after it finally decided to seek authorisation on December 21. As a result, the two companies which were competiting to buy Abertis now have the government’s approval. ACS obtained its authorisation on December 28.
That said, these authorisations refer to the transfer of the motorways which Abertis manages in Spain, a total of 1.559 kilometres, or 60% of all toll motorways in the country. The company also operates toll motorways in France, Italy, Brazil, Chile and India.
The two bidders still have to get the green light from the Energy Ministery with respect to Abertis’ satellite business. Abertis owns Hispasat, although it is currently in talks with REE aimed at eventually selling it off.