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Italy's CDP teams up with Blackstone, Macquarie for Atlantia motorway stake - papers

Credit: REUTERS/GUGLIELMO MANGIAPANE

Italy's state lender CDP has teamed up with private equity firm Blackstone and infrastructure fund Macquarie to prepare a bid for Atlantia's stake in its motorway unit, La Repubblica and Il Messaggero said, citing sources.

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MILAN, Oct 14 (Reuters) - Italy's state lender CDP has teamed up with private equity firm Blackstone BX.N and infrastructure fund Macquarie to prepare a bid for Atlantia's ATL.MI stake in its motorway unit, La Repubblica and Il Messaggero said, citing sources.

Shares in infrastructure group Atlantia rose more than 8% on expectation a potential offer by a consortium led by Cassa Depositi e Prestiti (CDP) for its stake in Autostrade per l'Italia could help the company resolve a long-running dispute with the government.

CDP, Blackstone, Macquarie could not immediately be reached for a comment. Atlantia declined to comment.

Atlantia has been embroiled in a legal dispute with the Italian government since 2018 when a bridge run by Autostrade collapsed, killing 43 people. The government has threatened to strip Autostrade of its motorway licence.

The two parties had moved closer to an deal in July, when Rome approved a plan that would see Atlantia cede control of Autostrade to CDP, but talks have since stalled due to disagreements over how to implement it.

Infrastructure group Atlantia said on Tuesday it had entered exclusive talks until Oct. 18 with CDP over the sale of the group's motorway assets.

It added at the time that it was open to considering a potential offer from CDP and other investors for its 88% stake in Autostrade per l'Italia.

According to Il Messaggero, an offer from the consortium could arrive as soon as Oct. 18, a day before Atlantia is set to hold a board meeting.

(Reporting by Agnieszka Flak and Stefano Bernabei, editing by Louise Heavens)

((agnieszka.flak@thomsonreuters.com; +39 02 6612 9450; Reuters Messaging: agnieszka.flak.thomsonreuters.com@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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