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Abertis Sells Saba Unit For $571M

Spanish infrastructure group, Abertis, has raised €400 million through the sale of its car parking and logistics units to a consortium, led by investment group Torreal.

Spanish infrastructure group, Abertis, has raised €400 million through the sale of its car parking and logistics units to a consortium, led by investment group Torreal, Reuters reports. Abertis will form an unlisted unit, Saba Infraestructuras, to manage its car parks and logistics businesses.

Abertis will pay a dividend of €0.67 in the form of cash or shares in Saba. Catalonian savings bank La Caixa, will take the Saba shares, while CVC and Spanish builder ACS will take the cash option. Torreal, ProA Capital and Criteria will become shareholders of Saba.

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