Abertis reacquires motorway – ItaliaOggi.it

The Texas government, following the decision taken by the Texas Transportation Commission last April to buy back the SH288 highway in Houston, has confirmed the amount of 1.7 billion dollars to benefit the concessionaire controlled by Abertis, for the buyback. The operation will determine a reduction of the group’s consolidated debt equal to 1.2 billion dollars.

This initiative, the company explains, was adopted by the Texan granting body in the absence of default by the Abertis concessionaire company and for the sole purpose of assuming direct management of the asset by the grantor, in advance of the concession expiration. The SH288 motorway generates an EBITDA of approximately…