SPAIN - ACS to receive offers for Continental today

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). Other bidders include sector players Alsa, Arriva and Monbús, as well as Funespaña and 3i.

The company's price tag is said to be set at around EUR 650-700m. Lazard is coordinating the sale. Doughty closed its first deal in Spain by acquiring transport group Avanza last year. If the acquisition goes ahead, Avanza will retain a market share of around 7%. The current sector leader is Alsa, owned by UK-based National Express, with a market share of 9%.

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• Topics
• Buyouts
• Southern Europe