Atlas Arteria cancels $188M tunnel sale in Germany
By Liezl Gambe- Atlas Arteria has terminated discussions to sell its Warnow Tunnel asset in Germany.
- The company share price showed no major movement following the official announcement.
- The decision follows IFM Investors securing a 67% majority stake in the business.
Atlas Arteria (ASX:ALX) has terminated talks to sell its German motorway asset for up to $188 million.
The company originally sought the sale in June to block a hostile takeover attempt by IFM Investors.
IFM Investors successfully acquired a 67% stake through a cash bid direct to shareholders.
The abandoned deal involved the 2.1km Warnow Tunnel located in Rostock, Germany.
Following the announcement, the Atlas Arteria share price was unchanged at $5.04.
Atlas Arteria operates international toll roads across France, Germany, and the United States.
The business stated that the German tunnel will remain part of its core global infrastructure portfolio.
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