Astaldi is pleased to announce that, following authorisation from the Antitrust Authority and the favourable outcome of a meeting of the Italian Government’s Interministerial Economic Programming Committee («CIPE») on 10 August 2016 regarding the completion of the A-31 Valdastico motorway, the final contract of sale of Re. Consult Infrastrutture S.p.A. to Abertis, the Spanish toll-road operator, has been signed today. All the conditions defined in the preliminary sale agreement, signed on 10 May 2016, have now been met.
Re. Consult Infrastrutture S.p.A. is the special purpose vehicle that holds 44.85% of A4 Holding S.p.A., which fully controls the motorway concession holder Brescia Verona Vicenza Padova S.p.A.
The stake in Re. Consult Infrastrutture sold by Astaldi Group, equal to 31.85%, has been valued at approximately EUR 130 million, with payment of the price established for 2023. At the same time, Astaldi and the other sellers structured a non-recourse receivable sale. Therefore, the transaction’s closing, recorded in-line with management expectations with regards to timing, allows for the collection of the net amount of EUR 110 million.
The sale of A4 Holding represents an initial, key result in the plan to dispose of concession assets established as a priority objective in the 2016-2020 Strategic Plan.