Aspi. Atlantia: no extension on the split, only a few days due to a Cdp consortium offer

• Aspi, by the end of the month offer Cassa Depositi e Prestiti in the shortest time

• Autostrade, here is a detailed CDP proposal for the acquisition from Atlantia of 88.06% of the ASPI shares

• Aspi, Atlantia responds to the government: ok to negotiations with CDP but no to imposed constraints

• Autostrade, government ultimatum to Atlantia: responses by the end of the month or revocation of the concession

• Atlantia, green light for a new company from Aspi spin-off

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29 March 2021 The Extraordinary Shareholders' Meeting of Atlantia did not approve the extension, from 31 March to 31 July, of the term of the project for the partial proportional demerger of the company in favor of Autostrade Concessioni e Costruzioni SpA, a project that had been approved by the same assembly last January 15th practically unanimously.

The shareholders' meeting of Atlantia met under the chairmanship of Fabio Cerchiai and took place exclusively through the Designated Representative in consideration of the provisions for containing the infection from Covid-19.

A note was released at the end of the meeting and informed that a share capital of 72.32% attended the meeting. 

(2/3 of the share capital represented at the Shareholders' Meeting) having obtained the favorable vote of 1,167 shareholders equal to 51.80% of the share capital present at the Shareholders' Meeting and the vote against 2 shareholders equal to 48.06%, while 12 shareholders abstained equal to 0.14% of the share capital present ".

In particular, the negative vote by Edizione (Benetton) and Crt, the only two shareholders to have voted against the extension, as announced in recent days, was decisive.

All the other shareholders (1,167 in all, including the large institutions such as Gic, Lazard and Tci) voted in favor, apart from 12 abstentions (equal to 0.14%).

Therefore, in the absence of offers (by 31 March) for the purchase of the overall stake that Atlantia would hold in Autostrade Concessioni e Costruzioni SpA, the demerger will be interrupted and the transaction to which it is a party will not be completed.

The

, which should arrive in the next few days, remains the only one in the field at the moment for the reorganization of Aspi.

The consortium led by Cdp, for the purchase of 88% of Aspi, which includes the Macquarie and Blackstone funds, is continuing its in-depth study "with the aim of arriving at the presentation of a final offer in the coming days. for the purchase of the stake held by Atlantia in Autostrade per l'Italia, or for the purchase of up to 100% thereof in the event of the exercise of the co-sale right by the minority shareholders of Aspi ".

The Consortium is working on some refinements on the risk guarantees front.

Confirmed the value of 9.1 billion euros as the final valuation price of the company.