June 06, 2017
Latham & Watkins has advised a consortium of 24 banks in connection in connection with the financing of the voluntary tender offer launched by the Italian toll-road company Atlantia, controlled by the Benetton family, to acquire the 100% of the share capital of the Spanish toll road company Abertis, for a total consideration of EUR16.3 billion. The transaction represents largest M&A deal in the Spanish market since 2007, and is one of the largest loan financings for an acquisition announced globally this year.
The offer, which is expected to close later in the year, will create the worldwide leader in the transport infrastructure management, with a diversified portfolio of assets in 19 countries, 14,095km of toll roads and airports in Rome and Nice.
The Latham & Watkins team was led by Milan finance partner Andrea Novarese and corporate partner Maria Cristina Storchi, London finance partner Ross Pooley and Madrid corporate partner Ignacio Pallares, with Milan associates Erika Brini and Davide Camasi, London associates Lisa Stevens and Aliye Inci Aydogdu and Madrid counsel Fernando Colomina and associate Ori Assa.