Decisive step forward in the sale of Autostrade per l'Italia (Aspi) by Atlantia to the consortium formed by Cdp Equity along with the funds Blackstone e Macquarie. The Court of Auditors gave the green light to the operation worth around eight billion euros:
“The central preventive control section of legitimacy – reads in a note from the accounting judiciary – admitted to legitimacy the provision of the Ministry of Infrastructure and Sustainable Mobility concerning the approval of the Settlement Agreement between the Ministry of Infrastructure and Sustainable Mobility and Aspi and the Cipess resolution containing the opinion on the third addendum to the single agreement with Autostrade per l'Italia and on the related economic and financial plan. The reasons will be disclosed as soon as the resolution is filed within the terms of the law".
Autostrade changes hands: only a formal change is missing
At this point, the sale of Aspi can be considered substantially concluded. It remains to be implemented only one last condition precedentbut it requires a formal fulfillment: the Ministry of Infrastructure and the Treasury must re-approve the addendum with an inter-ministerial decree and then send it back to the Court of Auditors for final registration. After that, 88,06% of Autostrade controlled by Atlantia could be transferred to the consortium, which in turn will be controlled by CDP with 51%, while the two funds will each have 24,5%.
The State-Benetton dispute is closed
This will close the dispute between the State and the Benetton family company that began almost four years ago after the collapse of the Morandi bridge. The sale served precisely to avoid the dispute that would have arisen from the revocation of the concession, threatened several times by the government from August 2018 onwards.
The effects on Atlantia's stock on the Stock Exchange
The news gave sprint to the share on the Atlantia Stock Exchange, which gained 1,6% at the end of the morning, to 17,485 euros. This is one of the best increases on the Ftse Mib, which floats around parity in the same minutes.
