French-Australian Eiffarie takes stake in French road group

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Eiffarie, a subsidiary of French construction group Eiffage and Macquarie Autoroutes de France, said on Thursday it had agreed to take a 13.73-percent stake in French highway operator Autoroutes-Paris-Rhin-Rhone (APPR).

Macquarie Autoroutes de France is a unit of Australian banking giant Macquarie.

Eiffarie signed the deal, worth 854 million euros (1.1 billion dollars), to acquire stakes held by fund managers Elliott Management Corporation and Sandell Asset Management Corporation in APPR.

A statement from Eiffarie said the transaction should be completed by June 24.

© 2010 AFP

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