October 10, 2018 / 5:04 PM / 7 months ago

Atlantia, ACS to finalize Abertis deal in coming weeks: sources

FILE PHOTO: Toll road operator Abertis´headquarters is seen in Barcelona, Spain, October 9, 2017. REUTERS/Eric Gaillard/File Photo

MILAN (Reuters) - Italy’s Atlantia (ATL.MI) and Spain’s ACS (ACS.MC) will finalise their purchase of Abertis in the coming weeks, three sources close to the matter said, dismissing concerns the deal could fall apart after a bridge operated by an Atlantia business collapsed.

“By the end of October the deal will be wrapped up,” one of the sources said, adding Spanish authorities were almost ready to give their green light to the deal. Another source, however, said the closing could still take some weeks.

ACS declined to comment, while the other companies involved and the Spanish authorities were not available to comment.

Sources told Reuters last month the companies were entering the home straight of the deal.

Atlantia, ACS and the Spanish group’s German unit Hochtief (HOTG.DE) agreed in March to jointly take over Abertis in a 17-billion-euro ($20 billion) deal that would create the world’s biggest toll-road group and also make Atlantia a shareholder in Hochtief.

The Italian government has said it will revoke the motorway concessions of Autostrade per l’Italia after a bridge run by Atlantia’s motorway unit collapsed on Aug. 14 killing 43 people.

Autostrade accounts for more than 60 percent of Atlantia’s total core profits.

($1 = 0.8676 euros)

Reporting by Francesca Landini and Paola Arosio, Additional reporting by Andres Gonzalez in Madrid; Editing by Mark Potter and Jane Merriman

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