french toll roads ....aprr

MIG wins APRR


France raises 14.8 bln euros in toll-road firm sale
Wednesday 14 December 2005, 3:15am EST
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PARIS, Dec 14 (Reuters) - France on Wednesday raised a higher than expected 14.8 billion euros ($17.64 billion) in a controversial sale of majority stakes in three toll-road operating companies.

The Finance Ministry said in a statement it was selling the stake in the country's largest operator ASF (ASF.PA: Quote, Profile, Research) to Vinci (SGEF.PA: Quote, Profile, Research), which already held a stake of some 23 percent, at 50 euros per share which will be raised to 51 euros once another toll-road section is included in the ASF concession.

A stake in APRR (APRR.PA: Quote, Profile, Research) went to a grouping of France's Eiffage (FOUG.PA: Quote, Profile, Research) and Australia's Macquarie Infrastructure (MIG.AX: Quote, Profile, Research) at 61 euros per share and a group led by Spain's Abertis (ABE.MC: Quote, Profile, Research) won the stake in Sanef (SNEF.PA: Quote, Profile, Research) at 58 euros per share.

The Finance Ministry said the winners would have to offer the same price to minority shareholders who wanted to sell.