August 29, 2017 / 7:28 AM / a year ago

ACS sounds out Chinese funds to partner on potential Abertis bid: report

MADRID (Reuters) - Spanish builder ACS (ACS.MC) is sounding out Chinese funds with headquarters in Hong Kong to partner on a potential counter-bid for toll road company Abertis ABE.MC, Expansion newspaper reported on Tuesday citing investment fund sources.

The logo Spanish infrastructure company Abertis is seen outside his main office in Madrid, Spain, June 1, 2016. REUTERS/Sergio Perez

ACS declined to comment on the report on Tuesday.

ACS confirmed in July it was considering making an offer for Spain’s Abertis after Italian infrastructure group Atlantia (ATL.MI), controlled by the Benetton family, bid more than 16 billion euros ($18.6 billion) in May.

Atlantia had offered 16.50 euros per share, looking to create the world’s biggest toll road company.

Reporting By Sonya Dowsett. Editing by Jane Merriman

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