Autostrade Bidders to Add $1.66 Billion of Extras: Repubblica
Italy’s state-backed lender Cassa Depositi e Prestiti SpA is adding 1.4 billion euros ($1.7 billion) of sweeteners to its bid for a controlling stake in Atlantia SpA’s highway unit, La Repubblica reported, citing “financial sources.”
While the offer’s 9.1 billion-euro valuation of Autostrade per l’Italia SpA remains unchanged, Cassa Depositi and its partners plan to add 400 million euros of Covid-19 compensation and an extra billion euros in guarantees against legal claims, the newspaper reported.
Cassa Depositi, which is bidding for 88% of Autostrade with funds Macquarie Group Ltd. and Blackstone Group Inc., is expected to present the new offer later Saturday in a bid to seal the acquisition after months of talks.
Atlantia, which is controlled by the Benetton family, has already rejected four bids deemed inadequate by the company’s board.
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