Italian State Lender Eyeing a Majority Stake in Autostrade

Italy’s state lender Cassa Depositi e Prestiti (CDP) is eyeing to purchase a majority stake in the upcoming initial public offering of Autostade, a move which will put investors’ fears concerning pricing of the asset at rest.

Autostrade is owned by Italy based holding company Atlantia SPA (ATL), at the beginning of the month, the Italian government said it had reached a preliminary compromise that left Atlania with no other option but to hand over control of Autostrade to the state lender and interested investors.

The deal resulted to a possible way of settling a dispute in which a bridge managed by Atlanta’s tollway unit collapsed in 2018 killing 43 people.

Atlantia has selected Merrill Lynch, JP Morgan Chase (JPM), Mediobanca and Bank of America Corp (BAC) to advice it regarding selling of stake in Autostade.

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