Sanef 15% stake auction enters first round – report (translated)
The first round of the auction for a 15% stake in French motorways operator Societe des Autoroutes du Nord et de l'Est de la France (Sanef) takes place this week, French daily Les Echos reported.
The unsourced article said the deadline for submitting first round bids expires today, Tuesday.
According to the report, the shareholding, being sold by French state-owned financial services group Caisse des Depots et Consignations (CDC), could be valued at between EUR 700m and EUR 800m.
The report claimed that interested bidders include Groupe Eurotunnel [EPA:GET], which operates the two rail tunnels between France and England, and major infrastructure funds from Australia and Canada.
The report went on to say that the current shareholders of Sanef, including majority shareholder Abertis [BME: ABE] from Spain, French insurer Predica, investment fund Ardian, and FFP, the investment holding from the Peugeot family, could also have the right to enter the fray if they match the market value of the shares.