Atlantia Launches Dual-Track Process to Exit Autostrade Per L'Italia Stake

   By Giulia Petroni and Pietro Lombardi

Atlantia SpA said Thursday that the board has approved a dual-track process for the disposal of its stake in highway operator Autostrade per l'Italia SpA, or Aspi.

The Italian infrastructure company said that, under the process, it would sell the 88% stake it owns in the operator through a competitive process managed by independent advisors or, in alternative, opt for a partial, proportional demerger and transfer the unit's assets it owns to a new company--Autostrade Concessioni e Costruzioni SpA--that will be floated on the stock market.

The process is open to Italian state lender Cassa Depositi e Prestiti SpA as well as other national and international investors, according to Atlantia.

Both transactions are subject to some suspensive conditions, which include a settlement agreement between Aspi and the Italian Ministry of Infrastructure and Transport.

Atlantia's shareholders are set to evaluate the proposed demerger at a general meeting scheduled for Oct. 30.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

September 24, 2020 09:27 ET (13:27 GMT)

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