Autostrade, here is a detailed CDP proposal for the acquisition of 88.06% of ASPI shares from Atlantia
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08 April 2021It is the board of Atlantia that is examining an initial evaluation of the offer of Cdp and of the Blackstone and Macquarie funds for Aspi.
It is not excluded that the board will also make a first analysis of the expression of interest from Florentino Pérez's Spanish Acs.
Spanish construction group Acs has offered € 10 billion to buy Autostrade.
This was reported by the Financial Times, citing a letter of which it became aware.
Acs, run by one of Spain's richest men Florentino Pérez, hopes to add Aspi - of the Atlantia group - to its global network of toll roads.
Acs would be willing to welcome other investors in its offer, including CDP.
In the letter, signed by the president of Florentino Perez, sent to the top management of Atlantia, it is emphasized that "given the strong relations between the two groups and the successful acquisition of Abertis", Acs believes that "Aspi is a very interesting asset perfectly consistent with its long-term strategies ".
Aspi's 9-10 billion valuation stems from "public information" and from "some initial high-level valuations carried out in advance by Acs" and is considered by the Spanish manufacturer as "attractive".
The same fork - adds Acs - as well as the final amount that it will be willing to pay for Aspi will depend on the approval of the new Pef and the go-ahead for the transaction by the competent authorities.
"As a major shareholder of Atlantia, we welcome the offer from Acs. The offer is far superior to that presented by CDP and its partners".
This was stated by Jonathan Amouyal, partner of the Tci fund, shareholder of Atlantia, commenting on the proposal of the Florentino Pérez group for the purchase of the stake held by Atlantia in Aspi.
"The Italian government should allow the sale of Aspi to the highest bidder without any political interference" and, he adds, "we expect the board of Atlantia to act in the best interest of all shareholders and immediately engage independently and professionally to examine the Acs offer ".