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CVC eyes €25 billion Spanish LBO, reports Financial Times

Tuesday, July 6, 2010

The Financial Times reports that CVC is considering a possible leveraged buy-out of Spanish toll road operator Abertis Infraestructuras. The buy-out, valuing the company at €25 billion, would be the biggest European LBO for several years if it goes ahead. The company, which is currently rated BBB+ by S&P and A- by Fitch, has €8.7 billion of bonds and other unsecured debt, and €6.5 billion of bank loans outstanding.

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