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CDP-led consortium to up offer for Autostrade, valuing company at more than 9.5 billion euros: paper

Reuters
·1-min read
FILE PHOTO: A view of the Autostrade per l'Italia headquarters

MILAN (Reuters) - A consortium led by Italy's state-lender CDP is set to raise its offer for Atlantia's motorway unit Autostrade per l'Italia to value all of the company at more than 9.5 billion euros ($11.19 billion), daily Il Messaggero said on Friday.

"The new binding proposal ... raises from 9.1 billion euros to over 9.5 billion euros the cash component for 100% (of Autostrade) but keeps intact the indemnities for 1.5 billion", Il Messaggero said, citing banking sources.

Atlantia's key investors said on Thursday the bid expected by Saturday from Italian state lender CDP and its partners appeared to be the best option for the sale of the group's motorway unit Autostrade per l'Italia.

CDP is expected to hold a board meeting on the matter on Saturday.

CDP could not immediately be reached for a comment.

($1 = 0.8488 euros)

(Reporting by Maria Pia Quaglia, editing by Agnieszka Flak)