Sias has acquired 99,98% of the share capital of the Turin-Savona motorway (ATS) from Autostrade per l'Italia. To close the operation, the holding company of the Gavio group had to shell out 223 million euros. The purchase option was exercised by the subsidiary Autostrada dei Fiori. With the acquisition, the motorway network managed by the Gavios reaches approximately 1300 km. Sias and Atlantia communicate it in two separate notes.
The Tortona-based group explains that, in relation to this operation, the extraordinary shareholders' meeting of Autostrada dei Fiori gave the board of directors the mandate for a capital increase of up to 162,5 million euros.
ATS holds a concession of around 130 kilometers with an expiry date of 2038 and net toll revenues in 2011 amounted to 64 million, with an Ebitda of 30 million. Net financial debt is 35 million.
The operation should be completed by November 15th. With this acquisition, the average duration of the motorway concessions of the Sias group, calculated on the basis of mileage, will increase to 13 from 11 years.
