PE-Backed Abertis Plans to Spin Off Unit

Spanish infrastructure firm Abertis, which is backed by private equity firm CVC, is studying a plan to spin off its car parking and logistics units, Reuters said, attributing the plan to CVC's desire to extract value from the company. Abertis plans to create a new unlisted subsidiary, Saba Infraestructuras, which will comprise its car parks and logistics parks businesses and would allow new institutional investors to contribute, Reuters wrote. CVC owns roughtly $15.5% of Abertis.

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