Proposed acquisition of Dragados Servicios Portuarios y Logísticos

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Slaughter and May and Uría Menéndez have been advising on the proposed acquisition of Dragados Servicios Portuarios y Logísticos, S.L. ('DSPL') by a consortium led by institutional investors advised by J.P. Morgan Asset Management, from ACS, Actividades de Construcción y Servicios, S.A. ('ACS'), one of Spain's largest construction and infrastructure groups.

The proposed acquisition was announced on 06 August 2010.

DSPL is Spain's largest port operator, also ranking among the largest operators in Europe. DSPL operates the main container terminal in Valencia (Spain's largest port), as well as three container terminals in Bilbao, Malaga and Las Palmas, and 11 bulk terminals across Spain.

Uría Menéndez London assisted by other Uría Menéndez offices are advising on the regulatory and corporate aspects of the proposed acquisition and Slaughter and May is advising on financing aspects of the transaction.

Uría Menéndez (London office): Juan Carlos Machuca (partner), Eduardo Bagaría (associate)

Slaughter and May: David Bicknell (partner), Sarah Ellicott (associate), Alastair McVeigh (associate)