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Abertis shareholders considering a bid for equity stake: reports – Airport Share Wrap

Shares in Spanish-based infrastructure group, Abertis, surged 12.2% yesterday on the back of reports that two major shareholders are exploring plans to create a buyout vehicle.

The shareholders, ACS and Criteria, the investment arm of Spanish savings bank La Caixa, which together hold almost 55% of Abertis’ stock, are reportedly considering a leveraged EUR10.8 billion (USD13.5 billion) buyout by Luxembourg-based private equity firm CVC Partners. The two shareholders would reportedly sell a large portion of their stakes to a three-way investment vehicle with CVC.

Criteria, which holds a 28% of the company’s stock, stated it would retain a large amount of stock so that the bid does not involve a delisting of Abertis. Abertis owns Cardiff and Belfast International airports.

See related report: New report identifies almost 300 airport investor firms globally

Elsewhere in Europe yesterday, Aeroporto di Venezia (+4.0%), Ferrovial (+3.8%), Zurich (+2.1%), Fraport (+2.0%) were among the gains, while Vienna (-0.1%) and Copenhagen (-2.1%) lost ground.

Selected airports daily share price movements (% change): 05-Jul-2010