The Court of Rome (the “Court”), with its decree issued today (the “Admission Decree”), admitted Astaldi S.p.A. (“Astaldi” or the “Company”) to the composition with creditors procedure on a direct going concern basis. The Court’s admission is based on the positive valuation of the composition proposal and plan filed by the Company in compliance with the binding Offer received from Salini Impregilo S.p.A.
Furthermore, with a separate decree also issued today, the Court authorised the Company to take out new super senior finance for supporting the Company’s financial requirements up to the authorisation, for a maximum amount of EUR 125 million and bonding lines for a maximum amount of EUR 384 million.
Furthermore, the Court set the hearing for calling the creditors’ meeting to vote for 6 February 2020, indicating a term of 90 days as from today’s date for informing the creditors of the Admission Decree.
For the preparation of the Composition Proposal, the Company was assisted by Prof. Enrico Laghi, Studio Annoni, Studio Di Gravio and Studio Gianni, Origoni, Grippo, Cappelli & Partners, EY Advisory S.p.A. and Rothschild & Co. S.p.A.