Spain's Abertis agrees to sell 20 pct stake in Chile unit to ADIA

lunes 10 de octubre de 2016 13:25 GYT

MADRID Oct 10 (Reuters) - Spain's Abertis said on Monday it had agreed to sell a 20 percent minority stake in its Chilean unit to the Abu Dhabi Investment Authority (ADIA) for 495 million euros ($554 million).

The sale values the unit, which runs 771 kilometers of highways through six concessions in the country, at a total of 3.7 billion euros including debt, Abertis said in a statement.

The Spanish company will continue to run the company and will hold the remaining 80 percent stake.

The deal is subject to regulatory approval, the Spanish company said. ($1 = 0.8928 euros) (Reporting by Andres Gonzalez; Writing by Paul Day)