Abertis takes control of two motorways in Italy for 594 million euros – Investing.com Spain

MADRID (Reuters) – Abertis (MC said Tuesday it has reached an agreement to buy two companies that control 51.4 percent of the Italian industrial group A4 Holding, whose main assets are the highways A4 and A31 Brescia-Padova, for amount of 594 million euros

the takeover of the two highways -acordada Intesa, Astaldi and the Tabacchi family -. is the entry in Italy of Abertis, which has over 8,500 kilometers of highways managed.

Abertis said in a press release that the incorporation of both highways will consolidate around 610 million euros in revenues and 200 million euros of annual EBITDA.

operation is subject to approval by the Italian Government for the extension of the A31 motorway, and the amount of the purchase will be paid at the end of January 2023 (except for 5 million euros to be paid at the close of the transaction, expected in the coming months).

the Spanish group had indicated in August last year that it had signed an exclusive agreement with the consortium that controls A4 holding that could clear the way to clinch the Italian holding.

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