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Highways: Cdp in Aspi contextual to the IPO, market operation

2020-07-26T15:52:12.827Z


Sources on the Memorandum, asset valuation will not be ex ante (ANSA)The entry of Cdp and the other future shareholders into Aspi will not take place in steps, as initially envisaged, but will be contextual to the IPO with which Aspi will be listed on the stock exchange. This, according to what ANSA learns from sources close to the operation, the scheme envisaged in the Memorandum of understanding in the hands of Atlantia, but for which a date has not yet been set....


The entry of Cdp and the other future shareholders into Aspi will not take place in steps, as initially envisaged, but will be contextual to the IPO with which Aspi will be listed on the stock exchange. This, according to what ANSA learns from sources close to the operation, the scheme envisaged in the Memorandum of understanding in the hands of Atlantia, but for which a date has not yet been set. A scheme that thus guarantees an operation entrusted to the market, which will decide the valuation and quality of the assets. The entry of CDP will take place at the prices of the IPO.

The Memorandum, according to what has been learned, was sent on Friday to Atlantia, the holding company that controls Aspi, and contains the scheme and the ways in which Aspi will be listed: a scheme that prefigures a totally market operation. Also because Cdp, is by law and by statute a market operator, a company that decides its investments independently, and its BoD is the body that certifies that approved operations have these characteristics to which the Cassa is legally bound and by statute. Specifically, it is expected that the whole operation will take place in a single moment: split of Aspi from Atlantia with simultaneous listing on the stock exchange and capital increase at the price of the IPO for the entry of CDP, which will thus guarantee fresh resources for the new society. Also at the IPO, all other shareholders will enter. Among the expressions of interest that would have already arrived, there are Macquarie, Blackstone, Qatar, Poste Vita and Social Security Funds. The evaluation and price of Aspi will be established by the market. The date for signing was set by the government for tomorrow, Monday 27 July, but the postponement is now in fact, even if at the moment there is not yet another date.

Source: ansa

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