Spain’s Abertis (ABE.MC) said on Monday that, together with a unit of Canada’s Brookfield Asset Management (BAMa.TO), it will launch a bid for the shares of Brazil’s Arteris it doesn’t already own for 10.15 reais (US$2.87) per share.
The Spanish motorway operator and Brookfield Brazil Motorways Holding currently own 69.26 percent of Arteris through Participes, in which they hold 51 percent and 49 percent, respectively.
The offer, to be finalized May 17 and aimed at de-listing Arteris from the Brazilian market, discounts the payment of a dividend, worth around 1.1 billion reais, Abertis said in a statement to the stock market regulator.
Update: São Paulo-based Arteris is an operator of toll road concessions.
(Reporting by Tomas Cobos; Writing by Paul Day)
(This story has been edited by Kirk Falconer, editor of PE Hub Canada)
Photo courtesy of Abertis