CDP Equity, Blackstone and Macquarie sign agreement with Atlantia to acquire Autostrade per l’Italia

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:

  • contributing to the implementation of an extensive investment plan covering ASPI’s entire motorway network
  • promoting the upgrade of the network to facilitate digitalisation and innovation
  • improving the efficiency of infrastructure maintenance programs to ensure the highest standards of safety and performance for motorists
  • providing long-term stability to the governance of a key part of Italy’s infrastructure for the benefit of communities and the economy.

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.

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