The tender developed by the Municipality of Milan to identify a bookrunner for the placement on the market of 5% of A2A by Palazzo Marino and the Municipality of Brescia is ready. Times should be tight, given that the first phase of selection of the person who will have to take care of the placement on the market (and purchase the unsold securities if necessary) will close on May 8th.
In fact, on that day, five potential bookrunners considered suitable to carry out the delicate task of coordinating the accelerated book building on 5% of A2A, to be closed within the first half year, will be selected. Subsequently, an economic offer will also be required to make the final choice of bookrunner. Furthermore, the Municipality of Milan reserves the right to appoint an additional 'independent' advisor, who will support the administrations in evaluating the progress of the operation and its convenience from all points of view.
It should be noted, in fact, that to avoid potential conflicts of interest, the position of bookrunner cannot be assigned to persons who hold, directly or through subsidiaries, a share of more than 0,5% of A2A.
