We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Atlantia | BIT:ATL | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
By Joshua Kirby
U.S. fund Blackstone Inc. and Italy's Benetton family have officially launched their takeover offer for Atlantia SpA after receiving the go-ahead from the Italian market watchdog, they said late Monday.
The offer for the operator of toll roads and airports is for a maximum 552.4 million shares, or 66.9% of the company's share capital, at 23 euros a share, according to Schema SpA, Blackstone and the Benettons' investment vehicle. This implies a maximum offer value of up to around EUR12.7 billion ($12.5 billion) giving Atlantia an equity value of around EUR19 billion.
The offer period will begin next Monday, Oct. 10, and run through Nov. 11, Schema said, after Italian regulator Consob approved the bid. In recent weeks, Schema received approvals from the central banks of Italy and Spain, necessary because of Atlantia's stakes in regulated toll-payment companies in the two countries.
The remaining 33.1% stake in Atlantia is already held by the Benettons, via their investment company Sintonia SpA. The bidders plan to take the company private after the buy-out.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
October 04, 2022 01:55 ET (05:55 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
1 Year Atlantia Chart |
1 Month Atlantia Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions