Atlantia will sell to Argo Finanziaria, controlled by the Gavio group, its stake in Igli, the holding company that owns 29,9% of Impregilo. According to reports from Il Sole 24 Ore, the agreement should be made official today during the Atlantia board meeting. Gavio thus responds to the latest move by the Roman group Salini, which has made it known that it has risen to 20,06% in the capital of the main Italian general contractor.
The battle for Impregilo would thus end to the advantage of the Tortona group, which it would become first shareholder without even having to launch a takeover bid. Atlantia should receive as a counterpart a part or even the entire stake of Gavio in Asa-Autostrade of Santiago de Chile.
But Salini may still have an ace up his sleeve: the spin-off of the construction activities of Impregilo, which would then be later merged with the same Roman group. At that point Gavio would still be the first shareholder of the concessions, but he would slip to second place in the capital of the new construction group.
