This content is not available in your region

ISS recommends Atlantia investor back sale of motorway unit to CDP-led consortium - paper

By Reuters

MILAN (Reuters) – Leading governance adviser International Shareholder Services (ISS) has recommended investors in Atlantia later this month back the sale of the Italian group’s motorway unit to an investor consortium, daily Il Sole 24 Ore reported.

Atlantia has called a shareholders vote on May 31 over the proposed sale of its 88% stake in its Autostrade per l’Italia unit to a consortium comprising Italian state lender CDP and funds Blackstone and Macquarie after the bidders submitted an improved offer.

ISS urged shareholders to back the deal saying Atlantia’s board appeared to have done its best to get the highest value possible given the circumstances, Il Sole 24 Ore said.

(Reporting by Valentina Za; editing by Agnieszka Flak)