AGI – At the end of a story lasting almost three years the Atlantia shareholders’ meeting voted in favor of the sale of Autostrade per l’Italia to the consortium led by CDP.
The operation was voted on by almost 87% of the capital represented at the shareholders’ meeting. A strong majority in the light of the fears of the eve they feared, not so much the possibility of a rejection, but of a less clear prevalence.
In recent days, however, the three main proxy advisors (ISS, Glass Lewis and Frontis) had all given the indication to accept the offer of the consortium led by CDP. Cassa which used Citi and Unicredit as advisor in the transaction, Macquarie of Rothschild & Co and Blackstone of Lazard.
Today on the agenda of the ordinary shareholders’ meeting, held under the chairmanship of Fabio Cerchiai, there was a single point: “Sale of the entire stake held by the company in Autostrade per l’Italia spa to the consortium set up by Cdp Equity spa, The Blackstone Group International Partners LLP and Macquarie European Infrastructure Fund 6 SCSp “.
The participation of the shareholders in the meeting, which recorded the participation of 1,201 shareholders equal to 70.39% of the share capital of the company, took place exclusively through the designated representative in consideration of the regulatory provisions issued to contain the contagion from Covid- 19.
The proposal of the board of directors, described in the explanatory report made available on the company’s website on 30 April, was approved with the favorable vote of 1,129 shareholders equal to 86.86% of the share capital represented at the meeting. 60 shareholders, equal to 12.75% of the capital represented, voted against and 12 shareholders abstained, equal to 0.39% of the capital represented.
The board of Atlantia will meet on 10 June to make the final decisions regarding the offer presented by the Cdp consortium for the purchase of the entire stake in Aspi. This was decided by the board of directors of Atlantia which was held in the late afternoon and took note of the decision of the meeting.
The transaction is expected to be signed in late June while the closing must take place within the first quarter of 2022. The final price will be approximately 9.3 billion euros.
The market reacted well to the decision of the holding’s shareholders with the title Atlantia which was sustained throughout the day to close at € 16.09 per share up 2.84%.
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