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Atlantia, the holding company of Autostrade per l'Italia and Aeroporti di Roma, is to sell a minority stake in the toll-road operator.
Autostrade per l'Italia, 100% owned by Atlantia, is a concessionaire that manage and construct of toll paying highways with a network of around 5,000 km in Italy, Brazil, Chile, India and Poland. With 3,020 km in Italy, it serves 15 regions and 60 provinces and moves Italy closer to Europe's socio-economic hub, ensuring effective connections across the country and an infrastructure network that links the main metropolitan areas to the rest of the country.
According to sources, Atlantia’s advisers are gathering initial interest from potential buyers.
PSP Investments, Allianz SE, the Kuwait Investment Authority’s Wren House Infrastructure Management unit, Caisse de Depot & Placement du Quebec, Gingko Tree Investment and Macquarie Group are considering bidding for the asset.
The toll-road operator is valued at about €15 billion (US$16.5 billion)
Atlantia SpA’s Chief Executive Officer, Giovanni Castellucci, presented Atlantia’s new business plan in October, aiming to reduce the company’s dependence on Italy:
“Atlantia is looking to speed up its international expansion by acquiring attractive motorway and airport assets, whilst continuing to focus on our home market and above all on our investment programme in Italy. Over the next 5 years, we will invest more than €5 billion in Italy through Autostrade per l’Italia and €2.5 billion through Aeroporti di Roma. But our strategic objective is also to grow our international presence, increasing the percentage of EBITDA generated by our overseas businesses from the current 25%."
In August 2016, we reported that the French government selected an Atlantia Invest-EDF consortium for the privatization of the airport of Nice Côte d'Azur. The total value of the transaction totaled €1.22 billion.
In September 2016, Atlantia reached an agreement with San Lazzaro Investments Spain S.L. for the acquisition of a 21.3% stake in SAVE S.p.A., concessionaire of the Venice and Treviso airport system for a total consideration of about €174 million.