March 12, 2020 / 11:53 AM / 24 days ago

Italy's Salini Impregilo taps funds for joint bids in infrastructure projects

MILAN, March 12 (Reuters) - Salini Impregilo has written to infrastructure funds asking them to consider partnerships for jointly participate in projects, the chief financial officer of Italy’s biggest construction group said on Thursday.

“We have just sent some letters to 10 major infrastructure funds in order to develop with them a partnership to bid for projects where there is an equity side of the investment,” CFO Massimo Ferrari said in a conference call with analysts.

A source close to the matter said that KKR, Apollo Global Management, Partner Group, Ardian, Antin Infrastructure Partners and Macquarie were among investment funds invited to consider joint bids in the segment known as “Design-Build-Finance-Operate-Maintain” (DBFOM).

Ferrari said that the company was preparing a new business plan to rework its new business model and include also maintenance activities.

The CFO also said that at present all of the group’s sites were functioning properly despite the coronavirus emergency in Italy and worldwide, but he did not rule out an impact on the company business if the pandemic were to last for months. (Reporting by Elisa Anzolin; editing by Valentina Za)

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