The negotiations between Atlantia and CDP on the reorganization of Autostrade per l'Italia are one step away from the definitive break.
The holding company that controls the concessionaire has in fact replied to Cassa confirming that it intends to go straight on the path started for the disposal of the stake in the concessionaire.
A move with which Atlantia effectively closes the deal, according to sources close to Cdp, explaining that by excluding the indemnity to the market on the damages of Genoa, Cassa cannot proceed.
The holding replied immediately: "the indemnity does not exist for large market operations in the infrastructural world" Atlantia's move came in the evening.
A short letter with which the company confirms to Cassa that "following the resolutions passed yesterday by our board of directors", "the 'dual track' process", "in which we hope you want to participate", was started today.
In the letter it is hoped that the "difficulties" that emerged in the discussions can be overcome and it is anticipated that the dual track process has as its deadline for the presentation of non-binding offers on 16 December.
A communication that however does not go in the direction desired by via Goito.
The confirmation of the will to go ahead with the road started, demonstrates that the commitments undertaken by the two managing directors of Atlantia and Aspi on July 14 have been completely disregarded, underline the same sources, highlighting in particular that, rejecting the request for guarantees for damage caused by the collapse of the Genoa bridge (the so-called indemnity) Atlantia itself eliminates a fundamental market condition, mandatory for any market investor, which would make it impossible to approve the BoD operation.
Atlantia therefore, it is pointed out, thus effectively closes any possibility of continuing the negotiations on Aspi.
"Atlantia has not disregarded any kind of commitment. With the resolution approved yesterday, the board of directors shared a clear, transparent and market path, open to Cdp and to all potential interested investors. Cdp was promptly invited to take part in this process. ", say sources close to the holding.
On the other hand, those close to the dossier in via Goito recall how in these two months Cassa has carried out a negotiating table aimed at pursuing a market operation and the willingness to find solutions of reasonable compromise and market has been maximum.
The letter in which Cassa invited the company to reconsider its position and giving seven days of time was yesterday.
A letter coinciding with the board of directors of the holding which, carrying out the process announced at the beginning of August, started the 'double track' (block sale of 88% or demerger) to get to the disposal of the holding and set the October 30 for the shareholders' vote.
Now the word must necessarily pass to the Government, which is the creator of the CDP solution for Aspi, decided in the CDM of 14 July.
The irritation on the dossier has risen in recent days and today the curiosity of the Minister of Infrastructure and Transport Paola De Micheli arrived: "The government is not willing to delay for an infinite time. There is a technical time that is limited, but not infinite ".
The minister, while distancing herself from the negotiation, being the grantor, therefore the third party, also defended the action of the Treasury subsidiary: "I believe that Cdp, within its autonomy, is carrying out a rigorous negotiation also in compliance with the objectives that Atlantia itself has given itself ".
