By Mauro Orru 
 

Atlantia SpA said Thursday that its board of directors accepted an offer from a consortium for its entire stake in toll-road operator Autostrade per L'Italia, also known as ASPI.

The offer, which was put forward by a consortium made up of CDP Equity SpA, The Blackstone Group International Partners LLP and Macquarie European Infrastructure Fund 6 SCSp, was due to expire on June 11.

The offer for the Italian infrastructure operator's 88% stake in ASPI was accepted by a majority of shareholders at the end of May, paving the way for Atlantia to part ways with the operator of the Morandi bridge, which collapsed in August 2018 in the Italian city of Genoa, killing 43 people.

"The board has authorized the chairman and the chief executive officer for the finalization and signing of the share purchase agreement," Atlantia said, adding that closing can't take place before Nov. 30 this year.

The consortium made a binding offer for Atlantia's stake in ASPI in February, after a preliminary bid was rejected in October last year as Atlantia said it undervalued the business.

In April, Spanish construction company Actividades de Construccion y Servicios SA confirmed its interest in acquiring Atlantia's stake in Autostrade per L'Italia, along with other potential investors.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

June 10, 2021 08:58 ET (12:58 GMT)

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