Atlas Arteria seeks compensation claim in France over new tax
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The news: Toll road operator Atlas Arteria will proceed with a contractual compensation claim against the French government, after a new transport infrastructure tax was ruled to be compliant with the country's constitution.
The numbers: Atlas Arteria holds a 30.82% indirect interest in APRR, France's second largest toll road network and Europe's fourth largest motorway group.
The context: Melbourne-based Atlas Arteria noted that the French Constitutional Council has ruled that the new tax applicable to companies operating long-distance transport infrastructure is compliant with the French Constitution.
The ruling follows a constitutional challenge by APRR, along with other toll road companies impacted by the tax, in March.
Atlas Arteria said that it will continue to use "all appropriate means and avenues to assert APRR's rights" to ensure that the concession contracts are respected and its rights are protected.
The source: ASX announcement
