Autostrade, government ultimatum to Atlantia: responses by the end of the month or revocation of the concession
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20 October 2020 Green disk for the acquisition of Aspi.
At the proposal of the CEO, Fabrizio Palermo, the board of directors of Cassa Depositi e Prestiti, chaired by Giovanni Gorno Tempini, gave the green light to CDP Equity to proceed with the presentation - together with Blackstone Infrastructure Partners and Macquarie Infrastructure and Real Assets - an offer for the acquisition of the 88.06% interest in Autostrade per l'Italia held by Atlantia.
"The investment structure also allows the entry of other institutional investors, in particular Italians".
The transaction also provides for the signing of a term sheet aimed at regulating the main terms and conditions and the governance structures of a newly established company in which CDP Equity is the main shareholder, Blackstone and Macquarie (Bidco), which will be used for the realization of the investment.
This was communicated by Cdp in a note yesterday evening.
It is the bidders' objective to propose to Atlantia the signing, by October 28, 2020, of a memorandum of understanding between all the parties which governs in detail the main terms and conditions of the transaction.
From the date of signing of the memorandum of understanding, and for approximately 10 weeks, CDP Equity, Blackstone and Macquarie will carry out the due diligence at the end of which they will be able to quickly finalize a final offer for the purchase of the stake in Aspi.
In this regard, with a view to profitably continuing the discussions between the parties, the offer included, among other things, the expectation of the bidders that the Board of Directors of Atlantia postpones the Shareholders' Meeting for the demerger already called for the October 30, which underlies an operation other than that envisaged.