CVC To Take On Stake In Spain's Abertis

Law360, New York (August 11, 2010, 3:54 PM EDT) -- Private equity firm CVC Capital Partners has agreed to take a 15.55 percent stake in Abertis Infraestructuras SA for approximately $2.2 billion as part of a joint venture with Actividades de Construcciones y Servicios SA, the slumping Spanish construction conglomerate said Wednesday.

ACS currently has a 25.83 percent stake in Abertis, which operates toll roads, telecommunications, airports and other infrastructure concessions in Spain. The stake is valued at approximately $3.9 billion.

According to a letter sent to its shareholders, ACS said it would set up a...
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