Atlantia: sale to ACS of the entire stake held in Hochtief
CET 14:26 Rome, 15 September 2022 – Atlantia announces that the Board of Directors of the Company held today approved the sale of its entire stake in Hochtief AG (14,46%) to Actividades de Construcción y Servicios SA (“ACS”) following the binding offer submitted by ACS.
The sale consideration totals €577.8m, equal to €51.43 per share.
The sale of the stake forms part of Atlantia’s strategy of rationalising the investment portfolio and selling off non-core investments.
The agreement with ACS also includes an anti-embarrassment provision applicable in the 12 months following completion of the transaction, if ACS sells the shares acquired from Atlantia to a third party, other than an ACS group company, at a higher price.