ACS accelerates the search for a partner with 2 billion to improve the Abertis bid
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* The Spanish group would reduce the part that pays in shares of 20% to the environment of 8%
* The injection would be decisive to stop Atlantia if this moves
ACS is intensifying contacts with potential financial partners to lighten its burden in the takeover by Abertis and demolish an eventual attempt by the Italian company Atlantia to counterattack. The group presided over by Florentino Perez took out the sword for the Catalan concessionaire in a battle that began Atlantia back in April. The construction company acknowledged that it was studying a contraopa in July, reiterated it in September and presented it on October 18th through its German subsidiary, Hochtief. Now look for additional weapons to make your project more attractive.
The market doubted the financial strength of the German company, controlled 71.7% by ACS, and considered essential the participation of a partner who provided muscle to the operation designed in the headquarters of the construction company, whose second helmsman is Marcelino Fernández Verdes, at the time president of Hochtief. The aid did not arrive in time, despite what presented an amazing offer of 18.76 euros in cash, 13.7% higher than Atlantia, or 0.1281 Hochtief shares, now equivalent to 19.75 euros .
The leadership of ACS, advised by its great supporters in this operation -Lazard, JP Morgan and Key Capital-, intensifies the negotiations to give entry to an ally that adds more strength to the proposal. The mission is to achieve about 2,000 million euros in hard cash before the supervisor approves the OPA.
ACS would open the door to partners who bet on the resulting group, while having extra ammunition to enhance the offer without touching its essential design, explain several sources familiar with the bowels of the operation.