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Atlantia Signs Settlement Deal to Close Dispute Over Genoa Bridge Collapse

Dow Jones Newswires · Oct 18, 2021 02:02

By Giulia Petroni

Atlantia SpA said late on Friday that toll-road operator Autostrade per L'Italia, or ASPI, and the Italian transport ministry have reached a deal to end a dispute over the fatal collapse of a bridge in Genoa.

The Italian infrastructure operator confirmed that it will have to pay 3.4 billion euros ($3.94 billion) to settle the dispute. Its subsidiary ASPI was the operator of the Morandi bridge that collapsed in August 2018, killing 43 people.

Earlier this year, Atlantia signed an agreement to sell its 88% stake in ASPI to a consortium led by CDP Equity SpA, the holding company of Italian state lender Cassa Depositi e Prestiti SpA.

Atlantia also said it has been informed by the consortium acquiring the stake in ASPI that it wouldn't have to launch a bid for Autostrade Meridionali as a result of the settlement.

Write to Giulia Petroni at giulia.petroni@wsj.com

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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