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Four in race to buy stake in Atlantia's motorway unit -sources
April 13, 2017 / 3:38 PM / 8 months ago

Four in race to buy stake in Atlantia's motorway unit -sources

MILAN, April 13 (Reuters) - Four suitors are left in the race to buy a minority stake in Atlantia’s motorway unit, two sources close to the matter said on Thursday, as the Italian infrastructure group prepares to finalise the deal in coming weeks.

Rome-based Atlantia is selling up to 15 percent in its Autostrade per l‘Italia (ASPI) operations to fund overseas expansion. Analysts have said it could pocket around 2 billion euros ($2.1 bln) if it opts to sell the whole stake.

The sources said a consortium led by Allianz Capital Partners, the German insurer’s infrastructure investment vehicle, wants to buy around 5 percent in ASPI.

Allianz, which represents roughly two thirds of the consortium, has teamed up with a unit of French power giant EDF, one of the sources said.

Other suitors are Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, China investment fund Silk Road and an undisclosed investor, the sources said.

According to another person aware of the transaction, ADIA was looking at the asset because the deal sat well with its investment strategy.

“Atlantia will analyse the offers next week and an announcement on the outcome of the deal could come in the next two weeks,” one of the sources said.

Allianz, ADIA and EDF declined to comment. Atlantia and Silk Road were not immediately available for comment. ($1 = 0.9407 euros) (Reporting by Stephen Jewkes and Francesca Landini, additional reporting by Alexander Huebner and Stanley Carvalho; Editing by Susan Fenton)

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