SPAIN - Mercapital to join Doughty Hanson in competition for Continental Auto

Reports in the Spanish press suggest that Mercapital has joined forces with Doughty Hanson to bid for Continental Auto, the bus division of local infrastructure and services group Actividades de Construccion y Servicios (ACS). The company is said to be worth around EUR 600m. Rumour has it that Mercapital's president Jose Maria Loizaga is one of ACS' board members, which would deem the firm's bid for Continental illegal.