April 24, 2008 12:41 ET


BARCELONA, SPAIN--(Marketwire - April 24, 2008) - abertis has reached a preliminary agreement with ACS to purchase, using shares of its Spanish subsidiary INVIN, 49% of ACS' stakes in toll road concessionaires Autopista Central (48%) and Rutas del Pacífico (50%), both in Chile, for EUR 348.17Mn.

The agreement includes as a condition subsequent that by 30 June the remaining 51% be sold to abertis and Capital Riesgo Global, a company belonging to the Banco Santander Group, at a price of EUR 362.38Mn, with abertis to remain the majority shareholder of the holding company.

The transaction shall be subject to the required approvals and permits.

Description of the assets

- Autopista Central. 60km long with two stretches: the North-South stretch which covers 39.47km and links the Maipú River with the Américo Vespucio North motorway junction and which has an ADT of 75,000 vehicles. The second one is the 20.66km-long General Velázquez section which runs from the Route 5 South to the Route 5 North junction and has an ADT of 30,000 vehicles. Both are part of the north-south system which crosses the city of Santiago. The toll road was brought into service in two stages between December 2004 and May 2006 and the concession expires in 2031. ACS and Skanska are the concession's main shareholders with a 48% stake each.

- Rutas del Pacífico. This 131km-long toll road has two different stretches: Route 68 (110 km) and the Southern Trunk (21 km) which link Santiago de Chile with Valparaíso and Viña del Mar recording ADTs of 17,000 and 13,000 vehicles, respectively. The toll road was opened in 2001 and the concession runs for a maximum of 25 years. ACS and Sacyr are joint shareholders with 50% each.

Map showing location of Autopista Central and Rutas del Pacífico

(the graphics are available in attachment)

Abertis in Chile

abertis currently operates in Chile in the toll road, airports, car parks and logistics parks businesses. It holds a 25% stake in Sociedad Concesionaria del Elqui which manages the Los Vilos-La Serena toll road on Route 5 in the north of the country. This is a 229km-long road which runs to the Valle del Elqui, approximately 500km from Santiago. In just four years ADT on the Los Vilos-La Serena toll road has risen sharply to over 6,100 vehicles.

abertis is also present in Chile with a 51% stake in Gesa which manages, maintains and operates roads and toll roads (mainly on the Los Vilos - La Serena and Acceso Norte de Concepción toll roads) and service areas. abertis is also indirectly present in the airport business in Chile via Desarrollo de Concesiones Aeroportuarias (DCA)- which holds a 14.77% stake in SCL which has managed the concession at the Santiago de Chile airport since 1999.

Santiago's airport is the country's main access point and one of the most modern in the region. In the car parks business abertis operates in Chile through saba, which manages 13 car parks in Santiago, Concepción and Valparaíso offering a total of 8,144 spaces. Saba Estacionamientos de Chile is also planning a further project in Concepción which will add an additional 415 spaces to its portfolio.

The company also recently announced the purchase of 100% of the entity which manages the Plaza de la Ciudadanía car park in Santiago from a group of five local companies for EUR 16.5Mn.

This newly opened car park has 556 spaces and is located next to the emblematic Palacio de la Moneda, in the heart of the city's administrative district. abertis is also present in Chile in the logistics parks sector.

In mid-2007 the company announced an agreement with the ENEA Business Park in metropolitan Santiago to acquire a 63.3 hectare area of land on which to build a new logistics park. The project is set to become operational in early 2009, when the first buildings will be marketed. Total estimated investment once all work is completed is EUR 186Mn.


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