Infrastructure

Atlas Arteria seeks compensation in France over new tax

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Melbourne-based toll road operator Atlas Arteria (ASX:ALX) is pursuing a compensation claim against the French government after a new transport infrastructure tax was deemed constitutional.

Atlas Arteria, which holds a 30.82% stake in APRR, France's second-largest toll road network, announced its intention to seek compensation following the French Constitutional Council's ruling.

The council upheld the new tax imposed on companies operating long-distance transport infrastructure.

This decision comes after APRR, along with other toll road operators, challenged the tax in March.

Despite the ruling, Atlas Arteria stated it will continue to "use all appropriate means" to ensure its contractual rights are upheld.

Atlas Arteria Group is an Australia-based global owner, operator, and developer of toll roads. The company has a portfolio of five toll roads in France, Germany, and the United States.

The company owns a 31.14% interest in the Autoroutes Paris-Rhin-Rhonetoll road group in France.

At the time of reporting, Atlas Arteria’s share price was $4.93.

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