BX

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

Credit: REUTERS/ALESSANDRO BIANCHI

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.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.