The hands of Abertis on the “Serenissima”: 594 million for a majority – The Republic

MILAN – La Serenissima passes to the Spanish Abertis. The Spanish group has secured 51.4% of A4 Holding (the Brescia-Padua motorway Serenissima and A31), for a total amount of 594 million euro. It said in a statement that indicates that the agreement was reached, with the advice of Mediobanca, Banca Intesa, Astaldi and the Tabacchi family. The transaction, which will be adjusted in January of 2023 apart from an advance of 5 million payable “within the next few months”, is subject to the green light by the Italian Government on the extension dell’A31.

Well, sometimes they come back. Almost ten years after the not cashed by the Prodi government – time to get across was the minister of infrastructure, Antonio Di Pietro – for the merger between Abertis and Autostrade, the Spaniards were able to win over Italy after a due diligence started last summer. And so after conquering the towers of Wind putting on the plate 693 million euro with the aim of establishing Europe’s first independent pole in the transmission of telecommunications signals, the Spanish have also closed the “Serenissima dossier”. On the other hand that of the toll roads is their real ball: after the great refusal of 2006 returned to the post in 2009 to take the Sias Torino-Milano after the disappearance of Marcellino Gavio: despite an offer from 1.3 billion, but the attack does not hit home.

Now – after leaving for a long time Italy – tries again stronger than good offices with Intesa-Sanpaolo, the leading bank in Italy of the group. On the other hand the institute led by Carlo Messina has invested heavily on the Serenissima, as well as the Astaldi Group:

none of the two is employed as a dealer and the return of Abertis flame to Italy it became the occasion to monetize past investments. Pace of public shareholders who fear the advent of foreigners.

The incorporation of both highways will enable Abertis to consolidate in its financial statements about 610 million euro in revenues and 200 million in annual EBITDA . The Spaniards will bring so to over 8,500 Km its network of motorways under management.

Currently A4 Holding manages 235 km of highways in Veneto: the main one is the A4 ‘La Serenissima’, which connects Brescia to Padova at 146 km, the third toll road traffic volume in Italy, with an average daily traffic index (Tgm) of 91 thousand vehicles. Then there is the A31 (Autostrada della Valdastico), 89 kilometers, which has a Tgm of 12 thousand vehicles, divided into sections Vicenza-Piovene Rocchette 36 km and Vicenza-Badia Polesine of 53 Km.

the agreement includes a comprehensive investment plan on the A31 motorway, which involves the construction of a new highway that will complete the connection of trafficking already exists with the A22 Brenner motorway. In this way, the A31 will become the shortest and fastest route between Central and Eastern Europe, providing a strong attractiveness of traffic. The project is subject to approval by the CIPE and the definition of the track is in the final stages of negotiation between the local authorities of the Province of Trento, the Veneto Region and the Government.

Topics:

Abertis

Highways

Serenissima

a4

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