Atlantia Forms New Company to Acquire Autostrade Spinoff Assets
September 03 2020 - 10:53AM
Dow Jones News
By Cecilia Butini
Atlantia SpA said Thursday that it has agreed to establish a new
company called Autostrade Concessioni e Costruzioni SpA to acquire
the assets resulting from the spinoff of Autostrade per l'Italia,
including Atlantia's stake of up to 88% in the motorway
operator.
"The company is being established in readiness for the planned
proportional spin-off and subsequent stock market flotation,"
Atlantia said.
The Italian infrastructure operator said the spinoff plan and
transaction will need to be approved by the company's board of
directors.
It said a possible direct sale of Atlantia's 88% stake in
motorway operator Autostrade per l'Italia is still an alternative
to the spinoff as previously announced.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
September 03, 2020 10:38 ET (14:38 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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