Rome, 12 June 2021
The Consortium comprised of CDP Equity, Blackstone Infrastructure Partners and Macquarie Asset Management has today announced that it has reached an agreement with Atlantia S.p.A. ("Atlantia") to acquire its 88.06% equity interest in Autostrade per l’Italia S.p.A. ("ASPI").
ASPI is one of Europe’s largest toll road operators, managing more than 3,000 kilometres of toll roads across Italy under long-term concessions granted by the Italian State. ASPI and its subsidiaries are responsible for the development, maintenance and management of motorways on a network which stretches throughout Italy and represents approximately half of the country’s tolled motorway system, with approximately 4 million travellers per day.
The acquisition will be carried out through Holding Reti Autostradali (“HRA”), a newly established vehicle incorporated under Italian law, owned (directly or indirectly) by CDP Equity (51%), Blackstone Infrastructure Partners (24.5%), and funds managed by Macquarie Asset Management (24.5%).
Today, HRA and Atlantia have executed, among others, a share purchase agreement for the acquisition of 88.06% of ASPI.
It is expected that the acquisition will be completed in the following months further to the satisfaction of customary closing conditions and the receipt of the necessary authorisations from the competent authorities.
The main objectives of the Consortium’s investment include:
Following the agreement reached today with Atlantia, the Consortium will initiate an exploratory dialogue with the minority shareholders of ASPI – which have tag-along rights – to better understand their views on their 11.94% equity interest of the company.
Giovanni Sanfelice di Monteforte (Milan)
Paula Chirhart (New York)
+1 347 463 5453
Macquarie Asset Management
Federico Steiner (Milan)
+39 335 424278
Patrick Gallagher (London)
+44 7795 353820
CDP Equity is a holding company of Cassa Depositi e Prestiti Group, with the objective of investing in Italian companies of significant national interest with economic, financial and asset balance, having suitable perspectives in terms of profitability and long-term development, capable to create value for the investors. CDP Equity also owns majority and minority interests in asset management companies, focusing on different business areas.
Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary by using extraordinary people and flexible capital to help companies solve problems. Our $649 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com and Blackstone on the Twitter account @Blackstone
Company information taken from ASPI Investor Presentation (January 2021).