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

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Giuseppe Fonte Reuters
Francesca Landini Reuters
Stephen Jewkes Reuters
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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.

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