AXA IM Alts Disposes of Atlandes Stake to Abertis
Deal News | Mar 04, 2025 | Orrick
AXA Investment Managers Alts and Crédit Agricole Assurances, advised by Orrick, have entered an agreement to sell their 51.22% share in Atlandes, the concession company managing the strategic A63 highway, to Abertis Infraestructuras, S.A. The A63, a 104-kilometer thoroughfare in southwest France, since its opening in 2011 has facilitated traffic between Bordeaux and the Spanish border. It serves as a vital link for international freight movement, with a significant portion of traffic being international trucks. The transaction, which requires regulatory approvals, is expected to finalize in Q3 2025. Orrick has a history of advising on prior acquisitions of stakes in Atlandes, including those from InfraRed in 2016 and DIF in 2019.
Sectors
- Infrastructure
- Investment Management
- Legal Services
Geography
- France – The A63 highway is located in southwest France, connecting Bordeaux to the Spanish border.
- Spain – The A63 highway serves as a strategic route to the Spanish border, and the acquirer, Abertis, is a Spanish company.
Industry
- Infrastructure – The deal involves the A63 highway, a major infrastructure asset, highlighting importance within transport infrastructure sector.
- Investment Management – Involves financial entities such as AXA IM Alts and Crédit Agricole Assurances acting in investment capacities.
- Legal Services – Orrick's legal advisory role in the transaction underscores its relevance to the legal services sector.
Financials
- 51.22% stake – The percentage of stake in Atlandes to be disposed of by AXA IM Alts and Crédit Agricole Assurances.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| AXA Investment Managers Alts | Seller | Company | An investment management firm acting on behalf of its clients to sell its stake in Atlandes. |
| Crédit Agricole Assurances | Seller | Company | French insurance and financial services company selling its stake in Atlandes. |
| Abertis Infraestructuras, S.A. | Buyer | Company | Spanish infrastructure management company acquiring the stake in Atlandes. |
| Orrick | Legal Advisor | Company | Legal firm advising AXA IM Alts and Crédit Agricole Assurances. |
| Atlandes | Target Company | Company | Concession company for the A63 highway. |