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Spain’s ACS Confirms Approach to Atlantia on Toll-Road Unit

  • Bid by builder wouldn’t rule out role for Italy state lender
  • ACS said to value all of Autostrade at up to 10 billion euros
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Spanish construction company ACS Actividades de Construccion y Servicios SA has confirmed that it approached Italy’s Atlantia SpA in a display of interest in the firm’s domestic highway unit.

Madrid-based ACS said Friday that it sent a letter to Atlantia’s board expressing interest in taking part in the acquisition of a stake in road unit Autostrade per l’Italia SpA alongside other potential investors including Italy’s state-backed lender Cassa Depositi e Prestiti SpA.