Atlantia Rejects CDP Preliminary Bid for Highway Arm, Extends Talks
21 Octubre 2020 - 12:43AM
Noticias Dow Jones
By Pietro Lombardi
Atlantia SpA said late Tuesday that a preliminary bid for its
highway arm from a consortium led by Italy's state lender Cassa
Depositi e Prestiti doesn't reflect the value of the business but
agreed to extend talks with the bidders.
Cassa Depositi e Prestiti, along with investment funds
Blackstone Group Inc. and Macquarie Group Ltd., presented an offer
to buy Atlantia's entire 88% stake in Autostrade per l'Italia.
The infrastructure group's board "while expressing appreciation
for the preparation of the offer, has considered the economic terms
and the conditions at this stage as not yet compliant and suitable
for ensuring a fair market valuation of its ASPI stake," it
said.
It agreed to extend talks with the bidders until Oct. 27 and
reconvene the board on Oct. 28 to evaluate a potential new
offer.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com;
@pietrolombard10
(END) Dow Jones Newswires
October 21, 2020 01:28 ET (05:28 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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