Atlantia accepts CDP bid for Autostrade

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MILAN, 10 June - The board of Atlantia accepted the offer on Thursday from the Italian State lender Cassa Depositi e Prestiti and partners for the network investment of 88% in the motorway unit Autostrade per L'Italia.

A large majority of Atlantia's investors backed the sale of Autostrade to the CDP consortium last month, paving the way for a deal.

On Thursday, the Atlantia Board mandated its CEO and chairman to finalise the agreement, adding completion of the deal could not happen until Nov. 30 but would come no later than June 30, 2022.

In April, through Blackstone and Macquarie, CDP produced an offer that valued Autostrade at 9.3 billion euros.

The proposal is being backed by the Italian government, which has been trying since 1999 to regain control of Autostrade, since a bridge from the toll company in the port of Genoa gave way on 14 August 2018 killing 43 people.

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