SOURCE: ABERTIS INFRAESTRUCTURAS, S.A.

December 19, 2008 03:26 ET

ABERTIS AND SANTANDER INFRASTRUCTURE FUND II COMPLETES THE PURCHASE OF TWO CHILEAN CONCESSIONAIRES

BARCELONA, SPAIN--(Marketwire - December 19, 2008) - Following the acquisition agreement reached with ACS last April

- The consortium comprising abertis (57.7%) and Santander Infrastructure Fund II, through Infraestructuras Americanas and Sandgate (42.3%), have completed the acquisition from ACS of the latter's stakes in Autopista Central (48%) and Rutas del Pacífico (50%). The deal, for a total amount of EUR 728Mn (EUR 420Mn of which corresponds to abertis), is being effected via the acquisition of 100% of the shares of Inversora de Infraestructuras S.L (Invinsl), the Spanish subsidiary of ACS which holds these investments.

- This transaction gives abertis control over 79% of Rutas del Pacífico (a direct stake of 50% once the acquisition of Itinere's stake is completed, and an indirect stake of 29% through the consortium together with the Santander Infrastructure Fund II).

- The consortium will own 50% of Autopista Central via the acquisition of the 48% stake owned by ACS plus an additional 2% from minority shareholders.

- The deal consolidates abertis' presence in Chile, where it operates in all five business lines, thanks to this acquisition of high quality assets, which lengthen the average life of abertis' concession portfolio.

The consortium comprising abertis (57.7%) and Santander Infrastructure Fund II, through Infraestructuras Americanas and Sandgate (42.3%), have completed the acquisition from ACS of the latter's stakes in two Chilean toll road concessionaires. Autopista Central (48%), the urban toll road in Santiago de Chile, and Rutas del Pacífico (50%), the Santiago de Chile- Valparaíso-Viña del Mar toll road.

The deal has been effected via the acquisition of 100% of the shares of Inversora de Infraestructuras S.L, the Spanish subsidiary of ACS which holds these investments, for a total amount of EUR 728Mn, of which EUR 420Mn corresponds to abertis' stake in the consortium.

This transaction gives abertis control over 79% of Rutas del Pacífico (a direct stake of 50% once the acquisition of Itinere's stake is completed, and an indirect stake of 29% through the consortium). The consortium will own 50% of Autopista Central via the acquisition of the 48% stake owned by ACS plus an additional 2%, acquired by Nocedal -Chilean subsidiary of Inversora de Infraestructuras- from minority shareholders.

The deal consolidates abertis' presence in Chile, where it is active in all five business lines, thanks to this acquisition of high quality assets which lengthen the average life of abertis' concession portfolio.

Barcelona, 19 December 2008.- The consortium comprising abertis (57.7%) and Santander Infrastructure Fund II, through Infraestructuras Americanas and Sandgate (42.3%), have completed the acquisition from ACS of the latter's stakes in two Chilean toll road concessionaires. Autopista Central (48%), the urban toll road in Santiago de Chile, and Rutas del Pacífico (50%), the Santiago de Chile-Valparaíso-Viña del Mar toll road. The deal has been effected via the acquisition of 100% of the shares of Inversora de Infraestructuras S.L, the Spanish subsidiary of ACS which holds these investments, for a total amount of EUR 728Mn, of which EUR 420Mn corresponds to abertis' stake in the consortium.

This transaction gives abertis control over 79% of Rutas del Pacífico (a direct stake of 50% once the acquisition of Itinere's stake is completed, and an indirect stake of 29% through the consortium). The consortium will own 50% of Autopista Central via the acquisition of the 48% stake owned by ACS plus an additional 2%, acquired by Nocedal -Chilean subsidiary of Inversora de Infraestructuras- from minority shareholders. The deal consolidates abertis' presence in Chile, where it is active in all five business lines, thanks to this acquisition of high quality assets which lengthen the average life of abertis' concession portfolio.

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. The second one is the 20.66km-long General Velázquez section which runs from the Route 5 South to the Route 5 North junction. Both are part of the north-south system which crosses the city of Santiago de Chile. The toll road was brought into service in two stages between December 2004 and May 2006. ADT on this toll road in 2007 was 61,400 vehicles and the concession expires in 2031.

Rutas del Pacífico, S.A. y Rutas II. Rutas del Pacífico, S.A. is the holder of the Rutas del Pacífico concession, involving 131km of motorway connecting Santiago de Chile to Valparaíso and Viña del Mar, in which abertis will take a controlling and majority interest when the acquisition of Itinere's stake is concluded. This concession, for up to 25 years, entails two stretches: Ruta 68, a 110km stretch that runs between Santiago de Chile and Valparaíso, and Troncal Sur (southern trunk), a 21km stretch connecting Quilpué and Villa Alemana to Viña del Mar. Total ADT for the two stretches is 20,500 vehicles.

ABERTIS' PRESENCE IN CHILE

In addition to the toll roads acquired (Rutas del Pacífico and Autopista Central), abertis also manages the following concessions in Chile:

Sociedad Concesionaria del Elqui, S.A. (Elqui), holder of the 229km Los Vilos-La Serena concession on Route 5 North in Chile in which abertis will also take a controlling and majority interest once the deal with Citi to acquire Itinere's Chilean investments closes. ADT on this road, whose concession expires in 2022, is 4,000 vehicles.

Gestora de Autopistas, S.A. (GESA), which is in charge of operating and maintaining the Los Vilos-La Serena toll road in Chile. abertis will gain a controlling interest once the deal with Citi closes. GESA also oversees the management, maintenance and operation of the following toll roads: the 218km Santiago-Los Vilos, the 5km Melón tunnel and the 75km Chillán- Concepción road.

abertis recently entered the Chilean airport segment with the acquisition of DCA, a holding company with stakes in 15 airports in Mexico, Jamaica, Chile and Colombia. In Chile, DCA owns 14.77% of SCL Terminal Aéreo Santiago S.A., which has operated the management contract for the Santiago de Chile airport terminal since 1999, together with other shareholders including Agunsa (47.02%), FCC (14.77%), Sabco (13.43%) and YVRAS (10%).

abertis operates in the Chilean car park segment via Saba Estacionamientos de Chile, a wholly-owned saba subsidiary. At the end of last year the company acquired 100% of Sociedad Concesionaria Plaza de la Ciudadanía, owner of the car park concession in the square of the same name in Santiago de Chile from a group of five local companies. The deal size was EUR 16.5Mn. With this acquisition, saba now manages a total of 13 car parks in Chile, with aggregate capacity of 8,144 spaces across the cities of Santiago, Concepción and Valparaíso.

Saba Estacionamientos de Chile also has a further project in Concepción which will add 415 spaces to its portfolio. In logistics park management, abertis logisticspark santiago is the first full-service logistics park to be developed in Chile's capital city. The urbanization works began in February 2008 and delivery of the first 20,000m2 of warehouses is scheduled for 1Q10. The project, located in the ENEA industrial park, entails the construction of 350,000m2 of warehouses plus over 15,000m2 for corporate and personal services, including office space, restaurants, parking areas and rest areas for truckers. Lastly, abertis has an indirect presence in the Chilean telecommunications market through Hispasat, which broadcasts digital television via Telefonica Chile's and Telmex Internacional's DTH platforms, "Telefónica TV Digital" and "Telmex TV", respectively, using available capacity on the Amazon-1 satellite launched in August 2004, located at 61 degreesW.

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