4a5d59a7-0785-46ca-a780-9b1a2267c146.pdf

Relevant Fact

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COMISION NACIONAL DEL MERCADO DE VALORES (CNMV)



In compliance with article 82 of the Spanish Securities Markets Law, ABERTIS INFRAESTRUCTURAS, S.A. ("Abertis" or the "Company"), hereby notifies the Spanish National Securities Market Commission of the following


RELEVANT FACT


Abertis, through its wholly-owned subsidiary Inversora de Infraestructuras, has acquired a 50% stake in Autopista Central from Alberta Investment Management Corporation (AIMCo) for €948Mn. As a result, Abertis now controls 100% of the asset.


Autopista Central, a 61km concession expiring in 2031, is Chile's premium toll road asset, with the highest average daily traffic in the country (81,037 as of 9M 2015) and open road tolling technology which allows for traffic free flow. It crosses the center of Santiago de Chile and offers the best travel alternative for North-South traffic.



Following the acquisition, Autopista Central will be fully consolidated in Abertis' accounts (vs. equity accounted previously), with an approximate impact of ~€220Mn in revenues and ~€160Mn in EBITDA on a full year basis, in addition to ~€400Mn in Net Debt. The Chilean division will thus double its size and become Abertis' third largest market in terms of EBITDA, contributing around 11% of Group's total.



EBITDA (Pre) EBITDA (Post)


The acquisition of the remaining stake of Autopista Central extends the maturity of the local portfolio by one year to 2027, allows Abertis to implement its best-in-class industrial know- how generating synergies with the rest of the Chilean portfolio, captures economies of scale, and reinforces its financial position. It also creates the opportunity to negotiate with the administration potential capex for years programs.


Abertis now owns 100% of its Chilean assets portfolio where it manages more than 770km in toll roads through 6 different concessions. Chile enjoys the highest GDP per capita in the region and benefits from a clear and consolidated regulatory and legal framework making it one of the world's most attractive concession markets.


Abertis Chilean assets (length and maturity)


Abertis



100%


Abertis Autopistas Chile


100%


100%

100%


100%


100%


100% 100%



141 km

2024


92 km

2036


133 km

2019


229 km

2022


116 km

2026


61 km

2031



Through this transaction, Abertis demonstrates its ability to deliver growth within its existing portfolio of assets, and continues to deliver on 2015-2017 Strategic Plan.


Barcelona, 21 January 2016

Abertis Infraestructuras SA issued this content on 21 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 February 2016 10:59:56 UTC

Original Document: http://www.abertis.com/media/relevants_facts/2016/01/21/RF Control of Autopista Central_VF.pdf