Abertis Infraestructuras : The public tender offer for Arteris, Abertis’ subsidiary in Brazil, closes with an acceptance of 96% of the minorities’ shares

18 May 2016

• Partícipes de Brasil II, controlled by Abertis and Brookfield, will acquire 52.4 million of Arteris' ordinary shares for near €133Mn, of which Abertis will pay near €68Mn.
• Arteris will cease to be a trading company in the Brazilian stock market; the tender offer having reached an acceptance of more than two thirds of the minorities' shares object of the tender offer.

Partícipes de Brasil II, controlled by Abertis (51%) and Brookfield Brazil Motorways Holdings (49%), has closed the public tender offer for the shares owned by the company's minority shareholders, announced last April 15th.

Totally, both companies will acquire, through Partícipes en Brasil II, 52.4 million of ordinary shares, representative of 15.2% of Arteris' capital stock and of 96% of the total shares object of the tender offer. Both companies will pay a total amount of R$527Mn (near €133Mn), at the price of R$10.06 per share.

After the closing of the deal, Abertis and Brookfield Brazil Motorways Holdings will control 84.5% of Arteris, through Partícipes en Brasil I and Partícipes en Brasil II.

The offer has been accepted by more than two thirds of the minorities' shares object of the tender. This fact accomplishes the condition for Arteris to cease to be a trading company in the Novo Mercado Brazilian stock market index. This will take place the day immediately following the closing of the auction.

Abertis in Brazil

Abertis has a presence in Brazil through its subsidiary Arteris since 2012. Arteris' assets are nine toll road concessions totaling 3,250 kilometers. They are located at the States of São Paulo, Minas Gerais, Rio de Janeiro, Santa Catarina and Paraná. 4 of these concessionaries depend on the State of São Paulo (Autovias, Centrovias, Intervias and Vianorte), and the other 5 concessionaires depend on the Federal network (Autopista Fernão Dias, Autopista Regis Bittencourt, Autopista Litoral Sul, Autopista Planalto Sul and Autopista Fluminense).

It is a strong and equilibrated portfolio of concessions that upgrades Abertis' toll roads average concession duration. The concessionaires depending on the State of São Paulo have concessional periods maturing in 2028. As for the federal concessionaires, their average maturity period ends in 2033.

At the end of the first quarter, Brazil is Abertis' fourth biggest market in terms of EBITDA, totaling 11% of the Group. In terms of revenue, Brazil accounts for the 14% of the Group.