Ardian Infrastructure (through its Infrastructure Fund IV) will acquire 49% of the share capital of Autovia Padana for the amount of approximately 80 million euros (see here the press release).
Autovia Padana is the company which awarded the tender concerning management of the concession of the A21 Piacenza-Cremona-Brescia motorway.
Autovia Padana is now controlled with a 70% stake by da Satap, licensee company of the A4 Turin-Milan motorway and of the A21 Turin-Piacenza motorway (which in turn is controlled by Sias), with the remaining 30% owned by Itinera, the international construction company, subsidiary of Astm. Both Sias and Astm are part of Gruppo Gavio. Aftrer the deal, Satap will lower its stake to 50,9%, while Itinera will remain with just a 0.1%.
Under the agreement, Astm Group and Sias Group will retain control of Autovia Padana and continue to consolidate their investment using the line-by-line consolidation method. It will also enable Itinera to act as an EPC contractor for the program of the investment and maintenance programme envisaged in the concession agreement.
The deal will form the start of a strategic partnership with one of the most important independent private investment company which has recognised the strategic and financial values of the Group’s business model. This first investment represent the base to jointly develop potential new business initiatives in the infrastructure sector in Italy and around the world in a growth and internationalization perspective.