Spanish motorway management companies ACESA and AUREA have mreged to form ALBERTIS, new toll road leader in Spain and third largest toll motorway company in Europe behind Italy's AUTOSTRADA and France's ASF. The merger was effected through an exchange of shares: 2.16 ACESA shares for each AUREA share. ALBERTIS will have an annual turnover of EUR 1.1 bn. Its biggest shareholder will be LA CAIXA (with a 20.01% stake).