Atlantia’s shares rise by 10% after it entered exclusive talks with CDP

On Wednesday, Atlantia’s (ATL.MI) shares went up by more than 10% after it entered exclusive talks with Cassa Depositi e Prestiti (CDP) over the sale of its motorway assets.

According to a reliable source, Blackstone (BX.N) and Macquarie (MQG) would team up with CDP in a bid for Atlantia’s 88% stake in Autostrade per l’Italia. It also added that Fondi Italiani per le infrastrutture SGR (F2i) might become a part of the consortium.

“An agreement with CDP for the sale of (Autostrade) would eliminate the political risk, solve the debt problem in the holding company …, accelerate the return to an investment-grade rating of the group and ensure financial flexibility to Atlantia,” Equita broker stated.

On Wednesday, Il Messaggero reported that the consortium could be presented as soon as October 18 and it could be worth 8 to 10 billion Euros.