CERNOBBIO, Italy – A buyout of Italian infrastructure group Atlantia by the Benetton household and U.S. fund Blackstone Inc might be accomplished by the tip of the yr, Atlantia’s chairman stated on Sunday.
The bidders proposed a 58 billion euro ($57.7 billion) provide in April to take the airport and motorway operator non-public however have but to launch a proper bid pending regulatory clearance.
“We hope to have the ability to respect the timetable that we now have set,” Atlantia Chairman Giampiero Massolo advised Reuters on the sidelines of the Ambrosetti Discussion board convention in northern Italy.
The possible state of affairs was for a bid to be launched in October, with the intention of delisting the enterprise by the tip of the yr, he added.
He additionally confirmed that the group was a possible funding in Chicago Skyway, a U.S. freeway toll operator owned by Canadian pension funds OMERS and the Canada Pension Plan (CPP) Funding Board.
“It’s an attention-grabbing asset,” Massolo stated.
Spain’s El Economista newspaper reported in June that Abertis deliberate to bid for a 66.6% stake in Chicago Skyway in a transaction that might exceed 2.5 billion euros.
Abertis is a toll street operator managed by Atlantia and Spanish engineering firm ACS, which is led by Actual Madrid soccer membership proprietor Florentino Perez.
Massolo stated that relations remained good with ACS and Perez, who had been concerned in a rival buyout provide for Atlantia this yr.
($1 = 1.0049 euros)
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