MILAN May 15 Italian infrastructure group
Atlantia has launched a cash-and-share offer on Abertis
on Monday, in a deal that values the Spanish rival at
16.34 billion euros ($18 billion).
The transaction would create the world's biggest company in
the sector with 14,095 km of toll roads under management,
Atlantia said in a statement.
Atlantia said it would offer 16.50 euros per Abertis share,
or shareholders in the Spanish group can choose to be paid in
stock on the basis of a swap ratio of 0.697 Atlantia shares for
each Abertis one.
"We believe we achieved the goal" to make the offer friendly
and attractive for all shareholders and the management of the
two groups, Atlantia CEO Giovanni Castellucci said.
(Reporting by Francesca Landini, editing by Agnieszka Flak)