By Joshua Kirby

 

Atlantia SpA said Thursday that its Spanish arm Abertis has reached an agreement to sell its entire 35% stake in French highway company A'lienor, operator of the Autoroute de Gascogne.

The Italian infrastructure company said that Abertis subsidiary Sanef will sell the stake to A'lienor principal shareholder Eiffage SA, along with a 100% stake in Sanef Aquitaine, the operator's maintenance business, for a total of around 222 million euros ($261 million). The deal follows Eiffage's decision to exercise pre-emption rights over A'lienor and is expected to close by the end of the year, subject to relevant authorizations, Atlantia said.

The agreement is in line with Abertis's strategy to focus on growth in controlled assets and dispose of minority ones, Atlantia said.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

August 26, 2021 03:14 ET (07:14 GMT)

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