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Atlantia scraps spin-off plan for motorway unit Autostrade

Published 02/04/2021, 03:12 am
Updated 02/04/2021, 03:18 am
© Reuters.
ATL
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MILAN, April 1 (Reuters) - A plan to spin off the motorway unit of Atlantia ATL.MI has been interrupted after the Italian infrastructure group said on Thursday it had not received any offers for the sale of a stake in the demerged assets by a March 31 deadline.

Atlantia last year started a process to spin off its Autostrade per l'Italia unit as an alternative option to the sale of its stake in Autostrade to a consortium of investors led by Italian state lender CDP.

On Monday the Benetton family and Italian banking foundation CRT, two key investors in Atlantia, voted against extending the March 31 deadline, blocking the proposal and scuppering the spin-off plan.

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