Singapore Markets open in 39 mins

Italy's Atlantia to name CEO of newco with ACS for joint control of Abertis- source

MILAN (Reuters) - Italy's Atlantia will name the chief executive of a new company it will create with Spain's ACS to jointly control toll road operator Abertis, a source said on Tuesday.

Under the terms of the deal, Atlantia would consolidate the jointly acquired Abertis business, the source with knowledge of the matter added.

Atlantia, controlled by the Benetton family, and ACS, led by Real Madrid soccer club Florentino Perez, signed a deal to jointly take over control of Abertis, a source said, ending a four-month bidding war for the Spanish group.

(Reporting by Stefano Bernabei, writing by Giulia Segreti; Editing by Crispian Balmer)