Atlantia Shares Climb on M&A Interest

By Cristina Roca

Shares in Atlantia SpA jumped in early trading Thursday after a competitor confirmed interest in one of its units amid reports that a different set of suitors were weighing a bid for the company.

Shares in the Italian infrastructure company at 0758 GMT traded 10% higher at EUR20.81.

Late on Wednesday, Spanish peer Actividades de Construccion y Servicios SA said it had reached an exclusive agreement with funds GIP and Brookfield Asset Management Inc. for a possible acquisition of a majority stake in Atlantia's highways business.

ACS, which owns a 30% stake in tollroad-operator Abertis, with Atlantia holding just over 50%, said no decision had been made over an acquisition.

Late on Wednesday, multiple news organizations reported that private-equity firm Blackstone Inc. was looking at teaming up with the Benetton family, Atlantia's largest shareholders with a more than 30% stake, to take the Italian company private.

Blackstone declined to comment. Representatives of the Benetton family couldn't be reached.

Write to Cristina Roca at [e-mail]

(END) Dow Jones Newswires

April 07, 2022 04:24 ET (08:24 GMT)

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