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3 months ago
Atlantia sells 10 percent of Italy motorway unit, option to sell further 2.5 percent
April 27, 2017 / 6:09 PM / 3 months ago

Atlantia sells 10 percent of Italy motorway unit, option to sell further 2.5 percent

2 Min Read

MILAN (Reuters) - Italian toll-road group Atlantia (ATL.MI) said on Thursday it had sold a 10 percent stake in its Italian motorway unit to a series of investors including Allianz (ALVG.DE).

Atlantia, which runs more than 5,000 kms in toll motorways, said the total equity value for the whole of its Autostrade per l'Italia (ASPI) unit was 14.8 billion euros ($16 billion).

In a statement, the Italian infrastructure group said it had agreed to sell a 5 percent stake to a consortium 74 percent-led by Allianz Capital Partners and also including EDF Invest and DIF Infrastructure IV.

A further 5 percent was sold to the Silk Road Fund.

Atlantia said the Allianz-led consortium also had a call option to buy a further 2.5 percent of ASPI, on the same terms and conditions, before the end of October.

In a separate statement Atlantia confirmed its preliminary interest in a tie up with Spanish peer Abertis (ABE.MC), providing the deal was done on a friendly basis.

Reporting by Stephen Jewkes

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