Spain's ACS confirms bid for stake in Atlantia's motorway unit

MADRID, April 9 (Reuters) - Spanish infrastructure group ACS confirmed on Friday it made an initial offer to Italy’s Atlantia to buy its 88% stake in its motorway unit Autostrade per l’Italia.

ACS said in a statement it sent a letter to Atlantia’s board of directors it was interested in buying the stake together with other investors such as Cassa Depositi e Prestiti (CDP).

The ACS statement confirmed information released by Atlantia on Thursday.

ACS values Autostrade at between 9 billion and 10 billion euros ($10.7 billion to $11.89 billion), the statement said.

Toll-road operator Autostrade, which manages half of Italy’s motorway network, has been in the political crosshairs since the 2018 deadly collapse of a motorway bridge in Genoa which was run by the company.

Atlantia said its board on Thursday began looking at a revised offer sent last week by a CDP-led consortium.

$1 = 0.8411 euros Reporting by Inti Landauro; editing by Jason Neely