Italy’s Atlantia inks deal on Motorways  unit sale

The Nation  |  Jun 13, 2021

ROME -  Italian infrastructure group Atlantia said Saturday it had signed an agreement to sell its motorways arm, which was blamed for the deadly Genoa bridge collapse, to a state-led group.  Atlantia’s board had on Thursday approved the 9.3-billion-euro ($11.3 billion) deal to sell its 88-percent stake in Autos trade per l’Italia (ASPI) to a consortium led by state-backed investment bank CDP. The group had been under pressure to give up control of the subsidiary since the Morandi bridge disaster in Genoa in 2018, which left 43 people dead. ASPI was in charge of maintaining the structure, and the company and several of its employees at the time of the disaster are facing criminal investigations.

“Atlantia informs that it has signed with the consortium consisting of CDP, Blackstone and Macquarie (investment funds), the agreement for the sale of its entire stake held in ASPI,” the company said in a statement. 

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The Benetton family, best known for their eponymous fashion label, is the leading shareholder in Atlantia, with a 30 percent stake. 

Even after the sale of ASPI, the family will remain in control, via Atlantia, of Spanish motorway group Abertis and other holdings, including airports in Rome, Bologna and Nice.

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