Abertis, a Spanish motorway company, is giving Spanish builder OHL a 10 percent stake in exchange for toll roads in Brazil in a deal worth about 1. Spanish infrastructure companies have been under pressure to cut debt piles amassed during a decade-long construction and property boom that went bust four years ago and to reduce their exposure to recession-hit Spain. ACS, which has been trying to raise funds to pay off a 12 billion euro debt pile, said late on Wednesday that it had sold its 10 percent stake in Abertis for million euros. ACS shares closed up 6. Still, the deal allows OHL to reduce debt, with Abertis taking on million euros of liabilities held by the builder in Brazil and paying million euros cash for Chilean assets as part of the deal.
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