CVC joins ACS in Abertis

Funds advised by CVC Capital Partners ("CVC") have reached an agreement with Actividades de Construcciones y Servicios, S.A. ("ACS"), to jointly invest in a structure which will control ACS's current 25.8% stake in Abertis Infraestructuras S.A. ("Abertis"). The transaction values the stake at €3,000 million. Through this structure, ACS and CVC will actively participate in Abertis, as ACS has continued to do, to date.

The transaction has been financed by several local and international financial institutions. Abertis is a leading international infrastructure operator, with presence primarily in toll roads and telecommunications, with sales of €3,935 million and EBITDA of €2,435 million in 2009.

Javier de Jaime, Managing Partner at CVC Capital Partners, stated: "Abertis is a great business, with high quality assets in the different sectors where it operates and with an excellent management team. Our investment takes place at a low end of the cycle, in a business which has demonstrated enormous resilience and strength in adverse economic conditions over the past two years. We believe Abertis has great growth potential, both organic and inorganically, and our goal is to support the company and the management team in the long term to achieve its growth potential."

Mediobanca has acted as a financial advisor to the transaction.