The share of Salini Impregilo runs in Piazza Affari, gaining more than 5% at the beginning of the afternoon, to 2,46 euros, the highest price since the beginning of May. The purchases were triggered by two news related to Lane Construction.
First of all, the American subsidiary of the group, which was awarded a contract for the design and construction of the I-10 Corridor Express Lanes, a expressway in California (total value of the work 672,9 million dollars, of which 404 at altitude in Lane). The American division will carry out the project in joint venture with Security Paving Company, with work expected to start by the end of 2018 and finish in the first half of 2023.
In addition, Lane also sold Plants & Paving to Eurovia, a Vinci Group company, for a total cash consideration of $555 million. The transaction is subject to regulatory approvals and is expected to close and pay in the fourth quarter of 2018.
