Exclusive: CDP consortium to value Atlantia’s unit 9 billion euros in bid – sources

Business

A consortium of investors led by Italian state lender Cassa Depositi e Prestiti (CDP) is expected to approve a binding offer for Atlantia’s 88per cent stake in motorway unit Autostrade per l’Italia on Tuesday, two sources close to the matter said.

FILE PHOTO: A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy August 31, 2018. REUTERS/Alessandro Bianchi/File Photo

24 Feb 2021 12:30AM

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MILAN: A consortium of investors led by Italian state lender Cassa Depositi e Prestiti (CDP) is expected to approve a binding offer for Atlantia’s 88per cent stake in motorway unit Autostrade per l’Italia on Tuesday, two sources close to the matter said.

The bid will be based on a valuation of 9 billion euros (US$11 billion) for 100per cent of Autostrade per l’Italia, the sources said.

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The offer is not likely to include condition protecting the buyers from the legal risks linked to the 2018 collapse of a bridge run by Autostrade, one of the sources said.

CDP, Macquarie and Blackstone all declined to comment.

(US$1 = 0.8226 euros)

(Reporting by Francesca Landini and Giuseppe Fonte, additional reporting by Stephen Jewkes, editing by Giulia Segreti)

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From Channel News Asia - 24/02/2021