Credit Agricole, AXA, Groupama are considering teaming up in a consortium to acquire Sacyr Vallehermoso's 33.2% stake in French services and construction company Eiffage, Spanish news website El Confidencial reported. The move would be the easiest solution to Sacyr's embroilment with French securities watchdog AMF over control of Eiffage, the paper noted.
Credit Agricole, AXA, Groupama are considering teaming up in a consortium to acquire Sacyr Vallehermoso's 33.2% stake in French services and construction company Eiffage, Spanish news website El Confidencial reported. The move would be the easiest solution to Sacyr's embroilment with French securities watchdog AMF over control of Eiffage, the paper noted.
In November Sacyr said it was open to 'any offer' for its 33% stake in Eiffage, after its takeover attempt for the company had failed earlier in 2007. Sacyr's takeover plan finally ended up in courts with the French stock market regulator ruling that the Spanish shareholders were acting in concert to buy Eiffage.
Sacyr has appealed the AMF ruling requiring it to launch a full bid for Eiffage at EUR 129 per share, including a cash element, instead of the smaller all-share bid it launched in April.
