BX

Atlantia delays spin-off plans to extend talks with CDP-led consortium

Credit: REUTERS/ALESSANDRO BIANCHI

Italy's Atlantia said it had delayed a shareholder vote on the spin-off of its domestic motorway business to extend talks for the sale of its Autostrade per l'Italia unit to a consortium led by state lender Cassa Depositi e Prestiti (CDP).

MILAN, Oct 28 (Reuters) - Italy's Atlantia ATL.MI said it had delayed a shareholder vote on the spin-off of its domestic motorway business to extend talks for the sale of its Autostrade per l'Italia unit to a consortium led by state lender Cassa Depositi e Prestiti (CDP).

In a statement confirming what sources had told Reuters earlier on Wednesday, the infrastructure group said a revised offer it received this week from the CDP-led consortium for its 88% stake in Autostrade was still inadequate.

Atlantia said it would extend discussions with CDP and co-investors Macquarie and Blackstone BX.N with a view to receiving a new binding proposal by Nov. 30.

(Reporting by Giuseppe Fonte, Francesca Landini, Stephen Jewkes; editing by Valentina Za)

((francesca.landini@thomsonreuters.com; +39 02 66129437; Reuters Messaging: reutersitaly.thomsonreuters@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

BX

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More