Milan, October 5th 2022 – Atlantia – holding company that manages motorway and airport concession transport infrastructure and offers mobility services – informs that today the Company’s Board of Directors has acknowledged the voluntary tender offer launched by Schema Alfa S.p.A., bidco owned by Edizione S.p.A. – holding company controlled by the Benetton family – and Blackstone private equity fund.
The Benetton family, already owner of a 33.1% stake through its holding company Sintonia, along with Blackstone aims to acquire the remaining 66.9% of Atlantia, with a maximum investment of €12.7bn. This is the biggest takeover deal in Italy in terms of size and complexity of the last 10 years (source: Mergermarket), with an Enterprise Value of over €40bn.
The Board of Directors, having acknowledged the terms and conditions included in the offering document approved by Consob on October 3rd, has deemed appropriate the offer of €23 per share, which represents a 24% premium with respect to the official price of the shares recorded on April 5th (the day before the spread of the rumors about the transaction).
Equita acted as Financial Advisor of the independent directors of Atlantia with a team coordinated by Carlo Volpe (Co-Head of Investment Banking) and Simone Riviera (Head of Corporate M&A), and supported by the joint commitment of the Industrial and the Energy & Utilities teams.
With this transaction, Equita’s investment banking team further strengthens its leadership as key advisor to the Boards of Directors of listed companies in complex transactions.
Following the Atlantia deal, Equita – along with the Equita K-Finance team – consolidates its positioning in the M&A advisory industry in Italy, with 14 transactions closed year-to-date, representing €45bn of total value.