Atlantia's merger with Geminia creates savings
By Marc Castro
Apr 16, 2013 10:05 AM EDT
Apr 16, 2013 10:05 AM EDT
Atlantia, the Italian motorway firm said that it is expecting to post core earnings of above Eur2.9 billion or US$3.79 billion in 2013. This posted earning comes after its merger with Gemina, the holdings company managing Rome, Italy's airports.
Last March, Atlantia agreed to purchase Gemina through an all-share deal in order to create one of the largest infrastructure groups in Europe, covering motorways and airports with business interests in both Italy and in Latin America.
The new group would have a market value of over Eur10 billion or US$13 billion. It is to be controlled by the pre-eminent Benetton family of Italy through its infrastructure holdings firm Sintonia.
There is also a need for a shareholder vote at each of the companies general meetings on April 30.
For the transaction, Gemina was advised by Unicredit and Barclays with independent advisers were Banca Leonardo and Credit Suisse. Atlantia was advised by Goldman Sachs, Mediobanca, Royal Bank of Scotland and Banca IMI.
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