CDP Equity, Blackstone, and Macquarie to Buy Autostrade per l’Italia

Posted on 06/15/2021

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. An investor group led by CDP Group which also consists of Blackstone Infrastructure Partners and Macquarie Asset Management reached an agreement with Atlantia S.p.A. 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 kilometers 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 travelers per day1 .

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%).

At June 12, 2021, 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.

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