SPAIN - PAI one of two contenders left for Cintra

The deal would see the bidders put in EUR 150m in equity, which would be met with EUR 300m raised by Cintra in collaboration with BBVA and Calyon.

Offers by French Vinci Group, which already operates in Spain, and Isolux-Corsán, a Spanish corporate which had presented a bid alongside Valiance Capital and Deutsche Banks infrastructure division, RREEF' failed to make it to the last round.

The company has a large network with close to 300,000 spaces in 140 cities in Spain, Andorra and the UK. The process, led by Crédit Agricole and BBVA began in mid February and could see a sale materialise in the weeks to come.

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