By Ed Frankl

French infrastructure company Vinci SA and civil-engineering firm Eiffage SA said late Wednesday that they have raised their price for a takeover of tunnel operator Societe Marseillaise du Tunnel Prado Carenage.

Vinci said they would file a takeover with the French market authorities for a price of 27 euros ($30.63) a share, up from EUR23 previously.

The price represents a premium of 71% over the Marseille-based operator's closing trading price on March 31, just before the two companies made their first offer, Vinci said.

The two companies, which are now acting in concert, jointly own 66.2% of share capital and voting rights of the tunnel operator, Vinci added.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

December 09, 2021 01:31 ET (06:31 GMT)

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