CDP Equity, Blackstone and Macquarie sign agreement with Atlantia to acquire Autostrade per l’Italia

The Consortium comprised of CDP Equity, Blackstone Infrastructure Partners and Macquarie Asset Management has today announced that it has reached an agreement with Atlantia S.p.A. ("Atlantia") to acquire its 88.06% equity interest in Autostrade per l’Italia S.p.A. ("ASPI").

ASPI is one of Europe’s largest toll road operators, managing more than 3,000 kilometres of toll roads across Italy under long-term concessions granted by the Italian State. ASPI and its subsidiaries are responsible for the development, maintenance and management of motorways on a network which stretches throughout Italy and represents approximately half of the country’s tolled motorway system, with approximately 4 million travellers per day.

The acquisition will be carried out through Holding Reti Autostradali (“HRA”), a newly established vehicle incorporated under Italian law, owned (directly or indirectly) by CDP Equity (51%), Blackstone Infrastructure Partners (24.5%), and funds managed by Macquarie Asset Management (24.5%).

Today, HRA and Atlantia have executed, among others, a share purchase agreement for the acquisition of 88.06% of ASPI.

It is expected that the acquisition will be completed in the following months further to the satisfaction of customary closing conditions and the receipt of the necessary authorisations from the competent authorities.

The main objectives of the Consortium’s investment include:

• contributing to the implementation of an extensive investment plan covering ASPI’s entire motorway network
• promoting the upgrade of the network to facilitate digitalisation and innovation
• improving the efficiency of infrastructure maintenance programs to ensure the highest standards of safety and performance for motorists
• providing long-term stability to the governance of a key part of Italy’s infrastructure for the benefit of communities and the economy.

Following the agreement reached today with Atlantia, the Consortium will initiate an exploratory dialogue with the minority shareholders of ASPI – which have tag-along rights – to better understand their views on their 11.94% equity interest of the company.

Contacts

CDP Equity
ufficio.stampa@cdpequity.it

Blackstone Group
Giovanni Sanfelice di Monteforte (Milan)
+39 3661115525
giovanni@tancredigroup.com

Paula Chirhart (New York)
+1 347 463 5453
Paula.chirhart@blackstone.com

Macquarie Asset Management
Federico Steiner (Milan)
+39 335 424278
f.steiner@barabino.it

CDP Equity

CDP Equity is a holding company of Cassa Depositi e Prestiti Group, with the objective of investing in Italian companies of significant national interest with economic, financial and asset balance, having suitable perspectives in terms of profitability and long-term development, capable to create value for the investors. CDP Equity also owns majority and minority interests in asset management companies, focusing on different business areas.

Blackstone Group International Partners L.L.P

Blackstone is one of the world's leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary by using extraordinary people and flexible capital to help companies solve problems. Our $649 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com and Blackstone on the Twitter account @Blackstone

Company information taken from ASPI Investor Presentation (January 2021).