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Alitalia: the tender for the brand starts, base price 290 million

2021-09-18T06:58:33.053Z


Two phases and raises. Offers within 4/10, sale within the year (ANSA)


   The historic Alitalia brand, with its over fifty years of history, is officially on sale. The awaited announcement for the sale of the brand was in fact published by the extraordinary commissioners, who set the terms, conditions and conditions of the tender. The deadlines are tight, with requests for access to the data room starting today, binding offers by 4 October and the sale by the end of the year, and sets a starting price of 290 million. Raises will be possible and the bid with the highest price will win. Among the subjects intending to come forward, as repeatedly reiterated, there is ITA, which in view of the take-off on 15 October is also working to close the negotiations with the labor unions.



    The notice, announced with a notice in various newspapers (also in English in the Financial Times), was published in the morning on the extraordinary administration website: a 10-page document, signed by commissioners Gabriele Fava, Giuseppe Leogrande and Daniele Santosuosso, who defines the rules by which the competition will take place. The subject of the procedure is the iconic Alitalia brand, designed in 1969 (previously, the company's first logo, present for the first 22 years in the aircraft livery, included the 'Winged Arrow') with the A stylized with the colors of the tricolor, remained unchanged even in the following minor restylings and then became an icon of Italian spirit over the years. "The Alitalia brand represents a historical value and cultural heritage, rooted in the shared Italian imagination",the commissioners affirm, underlining that "this operation aims to protect the persistence of the name and logo in the panorama of air transport". To this end, in fact, the government has intervened through the infrastructure decree to ensure that an airline can win the tender.



    The basic tender price is set at 290 million (plus VAT and tax charges pursuant to the law): a figure higher than the value of 150 million indicated in recent months by Commissioner Leogrande. The brand will pass into the hands of the successful bidder "by 31 December 2021". Even after the sale, however, the commissioners will be able to use the name 'Alitalia in extraordinary administration' (but not the Alitalia logo) until the end of the extraordinary administration. The Alitalia Loyalty company will also be able to keep the name until 30 June 2022.



    The race goes straight to the heart. Already from 12 today and until midnight on September 30, the interested parties (companies "of any nationality" with assets "not less than 200 million" and holders of air transport licenses or air operator certifications are admitted) will be able to request for admission to the data room, which will be open on 20 September. After that, it will be possible to proceed with the binding offers, expected by 4 October. There are two phases for the award: in the first one, only binding offers equal to or higher than the tender price will be accepted; if this goes deserted, a second phase will open which will admit offers at a lower price. For both phases, if more valid offers arrive, it will be possible to make a raise,offering at least 10 million more of the best binding offer.


    The brand will be awarded, both in the first and in the second phase, to the offer with the highest price. However, the last word belongs to the Ministry of Economic Development, which will evaluate the results of the procedure and give the final go-ahead, also taking into account the "fairness of the price offered".



    The Alitalia brand focuses above all on ITA, whose leaders have already repeatedly reiterated their intention to participate in the tender. In the meantime, the company, when there is just under a month to take off, has convened trade unions and professional unions for Monday to close the discussion on 2,800 hires. Also on Monday, the company-trade union debate will continue at the Ministry of Labor on the extension of another year of the fund for over 7,000 workers (numbers that could increase to include all the aviation part). The workers' representatives, however, are asking for guarantees over the entire period of Ita's plan, that is, until 2025, and on this they await the opening of a table at the Ministry of Labor. 

Source: ansa

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