Atlantia sells Hochtief stake to ACS for 578 million euros
MILAN (Reuters) – Italy’s Atlantia said on Thursday it had sold its 14.46% stake in Hochtief to Spanish ACS for 577.8 million euros ($576.9 million), 51.43 euros per share, as the Italian infrastructure group pushes ahead with divesting non-core assets.
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MILAN (Reuters) – Italy’s Atlantia said on Thursday it had sold its 14.46% stake in Hochtief to Spanish ACS for 577.8 million euros ($576.9 million), 51.43 euros per share, as the Italian infrastructure group pushes ahead with divesting non-core assets.
The agreement with ACS also envisages a provision should ACS sell the shares acquired from Atlantia at a higher price to a third party in the 12 months after the closing of the deal.
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In Frankfurt, shares in German building company Hochtief spiked after the deal was announced to match the price agreed.($1 = 1.0016 euros)
(Reporting by Maria Pia Quaglia; Editing by Keith Weir)