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- Atlas Arteria (ALX) enters a trading halt while it plans and executes an entitlement offer
- The company will remain in the halt until September 19 or when more details regarding the raise are released, whichever ever occurs first
- Atlas is also acquiring a 66.67 per cent majority interest in the Chicago Skyway which represents an equity value of US$2.01 billion (A$2.92 billion)
- The acquisition establishes a partnership with Ontario Teachers’ Pension Plan, which is retaining its 33.33 per cent interest in the Chicago Skyway
- Shares in Atlas were halted at $7.81 on September 13
Atlas Arteria (ALX) has entered a trading halt while it plans and executes a capital raising which will be an entitlement offer.
The company will remain in the halt until September 19 or when more details regarding the raise are released, whichever ever occurs first.
Atlas is yet to disclose how much it intends to raise.
The company has also entered into an agreement to acquire a 66.67 per cent majority interest in the Chicago Skyway.
The skyway is a 12.5 kilometres toll road with 81 years of remaining concession life that provides congestion relief in an essential transportation corridor in Chicago, Illinois.
The acquisition establishes a partnership with Ontario Teachers’ Pension Plan, which is retaining its 33.33 per cent interest in the Chicago Skyway.
The majority interest represents an equity value of US$2.01 billion (A$2.92 billion) and is subject to receipt of regulatory approvals including consent of the City of Chicago.
RBC Capital Markets is acting as lead financial advisor and UBS Securities Australia is acting as financial advisor to Atlas Arteria for the acquisition.
UBS Securities Australia and RBC Capital Markets, are acting as joint lead managers, bookrunners and underwriters in relation to an equity capital raising to fund the
acquisition.
Shares in Atlas were halted at $7.81 on September 13.
