Cassa Depositi e Prestiti (CDP) on Tuesday gave the go-ahead to submit an offer to buy Atlantia's 88% stake in Autostrade per l'Italia unit, CDP said, after two sources told Reuters the bid would value 100% of Autostrade at 9 billion euros.
CDP consortium to bid for Atlantia’s unit by Feb. 24 Atlantia’s unit valued 9 bln euros in CDP offer, sources say CDP says consortium could buy up to 100% of Autostrade
MILAN, Feb 23 (Reuters) - Cassa Depositi e Prestiti (CDP) on Tuesday gave the go-ahead to submit an offer to buy Atlantia’s 88% stake in Autostrade per l’Italia unit, CDP said, after two sources told Reuters the bid would value 100% of Autostrade at 9 billion euros.
Italian state lender CDP, which will file its binding bid with its investment fund partners Macquarie and Blackstone, did not disclose the financial details of the bid due to be presented by Wednesday.
CDP-led consortium readies offer for 88% of Atlantia’s unit Minority investor TCI says unit’s value more than 12 bln euros (Adds details on consortium’s offer, Atlantia’s board)
MILAN, Feb 23 (Reuters) - A consortium of investors led by Italian state lender Cassa Depositi e Prestiti (CDP) is expected to approve a binding offer for Atlantia’s 88% stake in motorway unit Autostrade per l’Italia later on Tuesday, two sources close to the matter said.
The bid will be based on a valuation of 9 billion euros ($11 billion) for 100% of Autostrade, the sources said.
A previous non-binding proposal in December was pitched at an 8 billion-euro valuation, one of the sources said.