Abertis buys the Landas Highway in France and receives 400 million extra ACS and Mundys

Abertis It is reinforced in its main market. The ACS and Mundys owned group has agreed to the acquisition of 51.2% of Atlands, the concessionaire that manages the A-63 toll highway, in France. Known as the Landas Highway, it has a length of 104 kilometers in southwest France and forms a strategic corridor between Spain and the north of the neighboring country that serves as a link between Bordeaux and the towns of Bayona, Biarritz, Anglet and San Juan de Luz, forming an important tourist area near the Spanish border. Sellers are the French Companies Credit Agricole Assurances and Axa Im Alts.

Abertis, who has not revealed the amount of the transaction, implements the acquisition through its subsidiary Gala Hit, of which 100% of the capital holds. In France Abertis, it tells as a business matrix with the Sanef Group, which manages almost 1,800 kilometers of highways in the north of the country. In 2024, France consolidated itself as The country with a greater contribution in gross exploitation result (EBITDA) of the group, with 34%ahead of Mexico (14%), Spain (12%), Brazil (12%) Chile (11%), North America (10%) and Italy (6%).

The acquisition reinforces the portfolio and financial solidity of Abertis, in the case of a mature highway and in operation since 2013, and with growth potential during its remaining 26 years. With this, The Spanish concessionaire advances in the strategy to renew the asset portfolio before the reversions of projects that he has faced in recent years and those on the near horizon and after the early termination of the SH-288 in Texas (United States). In this sense, it is also negotiating the purchase of the participation of Ferrovial in Autema, which exploits the C-16 toll road between Sant Cugat (Vallès Occidental) and Manresa (Bages), in Spain.

The A-63 is a toll highway with three double lanes that connect salles with Saint-Geours-de-Marenne, in southwest France. This asset is a key route between Europe and the Iberian Peninsula for the transfer of goods Between Spain and northern Europe, and serves as a link between Bordeaux, with more than one million inhabitants and headquarters of important scientific and engineering facilities, and the towns of Bayona, Biarritz, Anglet and San Juan de Luz.

“This is a well -maintained asset, whose construction ended in 2013, and that does not require additional investments,” says the company that José Aljaro directs in a statement. In 2024, A-63 generated 170 million euros of income and a gross exploitation result (EBITDA) of 134 million euros, maintaining a positive traffic trend. The concession expires in 2051. In the capital of Atlands are with minority but relevant positions HICL Infrastructure, Axixi and Egis.

Thanks to this new acquisition, Abertis is reinforced in one of its key markets, contributing to the growth strategy and replacement of cash flow that follows the company, and extending the concessional life of the group. “This operation, together with the recent acquisitions in Puerto Rico, Spain and Chile, demonstrates Abertis’s ability to grow and maintain a balanced porpholiowith a mix of strong currencies such as the dollar and the euro, in countries with a stable legal framework, “says the company.

The closure of the acquisition is subject to the usual regulatory approvals, and the parties are working to achieve the closure as soon as possible.

After closing this operation, ACS and Mundys will inject 400 million euros of capital To support Abertis and reinforce his balance, “thus supporting his global leadership in transport infrastructure concessions and maintaining his current credit rating.” This injection adds to the one they already made last year for an amount of 1,300 million euros. On the contrary, Abertis has reaffirmed its dividend policy and will distribute this year its shareholders almost 602 million euros.

José Aljaro, CEO of Abertis, has affirmed that “we are very satisfied to expand our presence in a market like France, which allows us to consolidate as a reference operator, not only in the country, but in Europe, where we are supported years of experience managing infrastructure.”