Abertis has reached an agreement with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), which will result in the latter achieving a minority 20% economic stake in Abertis’ Chilean assets. The transaction values the company at €3.7 billion (100% EV without a control premium). The closing of the deal is subject to the accomplishment of certain precedent conditions.

The agreement involves the six concessions managed by Abertis in the country, in which the Group currently holds a 100% stake. Abertis will retain an 80% stake and will continue to play the industrial role. The subsidiary will also continue to be fully consolidated in the Group's accounts. This transaction will imply a cash inflow of €495 million (US$545.7 million) for Abertis.

Abertis’ business in Chile generated €220 million in revenues and €166 million in EBITDA in the first half of 2016. Abertis is the largest toll road operator in Chile in terms of traffic, managing six concessions totaling 771 kilometres:

• Rutas del Pacífico, which links Santiago with Valparaíso and Viña del Mar in the central area of the country (141 km)
• Autopista Los Andes, which links the city of Los Andes with the Ruta 5 Norte de Chile and the port of Valparaíso (92 km)
• Autopista del Sol (133 km), which connects Santiago de Chile with the port of San Antonio.
• Elqui, which links Los Vilos-La Serena in Northern Chile (229 km)
• Autopista Los Libertadores (116 km), which connects the country's capital with major cities to the north of the Santiago Metropolitan Region.
• Autopista Central (61 km in length), part of the North-South axis of Santiago, the toll road with the largest traffic volume in Chile.

Chile is one of the most attractive concessions markets in the world for Abertis, with a clear, stable and established regulatory framework and the highest per capita GDP in the region. The country is a key piece both to the Group's strategy and to its commitment to long-term value for its shareholders, customers and society as a whole.

Following the acquisition of 100% of Autopista Central in January, Chile is the Group's third largest market in terms of EBITDA, behind France and Spain, accounting for 11% of the total.