Clifford Chance is advising investment bank J.P. Morgan acting as financial advisor and provider of acquisition financing to Germany-based infrastructure group Hochtief AG in connection with its voluntary tender offer for Spanish Abertis Infraestructuras S.A.

A merger of Hochtief and Abertis would create one of the world's leading infrastructure companies. The Hochtief tender offer is a counterbid to an offer by Italian Atlantia, S.p.A., making the transaction the first major competing tender offer in Spain in more than 10 years.

The German-Spanish Clifford Chance team advising J.P. Morgan on this transaction comprises partners Bettina Steinhauer, counsel Mattias von Buttlar and associate Melanie Schmitz (all Frankfurt), partner Epifanio Perez and associate Ignacio Magariños (both Madrid) (all Acquisition Finance); partner Christian Vogel, senior associate Jochen Buckel (both Düsseldorf) and associate Miguel Barredo (Madrid) (all Corporate/M&A) as well as partners Javier García de Enterría (Madrid), George Hacket and associates David Santoro and Andrei Manea (all Frankfurt) (all Capital Markets).