Spanish Group ACS Confirms Bid For Italy's Autostrade

Spanish construction giant ACS on Friday confirmed it had offered up to 10 billion euros for a majority share in Italian motorway operator Autostrade per l'Italia (ASPI).

Madrid, (APP - UrduPoint / Pakistan Point News - 9th Apr, 2021 ) :Spanish construction giant ACS on Friday confirmed it had offered up to 10 billion Euros for a majority share in Italian motorway operator Autostrade per l'Italia (ASPI).

In a statement, ACS said it had written to Atlantia, the infrastructure group that owns 88 percent of ASPI, expressing an interest in acquiring its stake as part of a consortium of investors, for "between 9 and 10 billion euros" ($10.7 to $12 billion).

Atlantia has been under pressure to give up control of the motorway operator since the deadly collapse of the Genoa bridge in 2018, which ASPI was in charge of maintaining.

Majority-owned by the powerful Benetton family best known for its fashion labels, Atlantia said Thursday it had received an "expression of interest" from ACS but without disclosing a price.

ACS said one of the other potential investors was state lender Cassa Depositi e Prestiti (CDP).

Earlier this month, a CDP-led consortium had put in an offer valuing Autostrade at 9.1 billion euros.

Atlantia said its board of directors would examine both bids "in the coming days".

The Spanish group is headed by Florentino Perez, president of Real Madrid football club.