Hochtief AG's (HOT.XE) supervisory board may discuss an offer to buy Spanish toll-road operator Abertis Infraestructuras SA (ABE.MC) on Wednesday, German newspaper Rheinische Post reported Tuesday, citing supervisory board circles.
A spokesperson for Hochtief majority shareholder Actividades de Construccion y Servicios SA (ACS.MC), or ACS, declined to comment. ACS is headed by Hochtief Chief Executive Officer Marcelino Fernandes Verdes. According to the Rheinische Post, ACS could approach Abertis via Hochtief.
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In July, ACS confirmed reports that it was considering a takeover of Abertis, following Italian infrastructure group Atlantia SpA's bid for the Spanish company in May.
Atlantia's cash-and-share offer for Barcelona-based Abertis values the company at 16.3 billion euros ($17.8 billion) and could create the world's biggest toll-road operator. The timeframe of the offer is six months.
Abertis' single-largest investor is Spain's Criteria Caixa SAU, which owns 22.3% of the infrastructure company. In 2010, ACS sold its 25.8% stake in Abertis, 15.6% of which was acquired by private-equity firm CVC Capital Partners in a transaction valued at EUR1.72 billion.
Write to Max Bernhard at Max.Bernhard@dowjones.com; @mxbernhard
(END) Dow Jones Newswires
September 19, 2017 05:50 ET (09:50 GMT)