The shareholders of Atlantia approved the sale of the entire 88.06% of Atlantia in Autostrade per l’Italia to the consortium consisting of Cdp Equity, Blackstone Group international partners and Macquarie European Infrastructure Fund. The ok came from 1,129 shareholders, equal to approximately 87% of the share capital represented. The shareholders took part (in Covid mode) in the vote, confirming with a large majority the proposal of the board of Atlantia.
The stock of the parent company of Aspi, which already in the morning was moving up around three percentage points, after the formalization of the ‘yes’ of the shareholders recorded a good current of sales, rising over 4% to a maximum of 16 , 3 euros, to then retrace a few fractions and return to a rise of 3% at 16.1.
Now the ball passes to the board of directors expected for 10 June, but the game is essentially over: the Benettons are leaving 22 years after the privatization of 1999, as repeatedly invoked by the 5 Star Movement. The offer of the consortium led by CDP, which arrived with the latest “refinements”, after months of negotiations, on 29 April, sets the value of 100% of Aspi at 9.1 billion and recognizes a ticking fee (the percentage paid for offset the cash flows between the signing of an agreement and the closing) of 2% per annum on the price from 1 January 2021 to the date of the closing of the transaction. A percentage that, according to Atlantia, considering the completion of the transaction between the end of 2021 and March 2022 (closing date), would raise the value to “approximately 9.3 billion”. If the additional components of the price are also added, it would approach the 9.5 billion euro of the minimum threshold of the price range indicated by the independent advisors to Atlantia.