Glass Lewis recommends Atlantia investors back CDP-led bid for motorway unit

Italy's Atlantia ups guidance as motorway traffic drives profit higher
Italy's Atlantia ups guidance as motorway traffic drives profit higher   -   Copyright  Thomson Reuters 2021   -  
By Reuters

<p><body> <p><span class="caps">MILAN</span> (Reuters) – Proxy adviser Glass Lewis has recommended investors in Atlantia back an offer by a consortium led by Italian state-lender <span class="caps">CDP</span> to buy the infrastructure group’s motorway unit.</p> <p>“We are ultimately inclined to conclude the consortium agreement represents a suitable and certain path to resolving a long-standing and prospectively consequential impasse,” Glass Lewis said in a note seen by Reuters.</p> <p>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 the consortium which also includes funds Blackstone and Macquarie.</p> <p/> <p> (Reporting by Stephen Jewkes; editing by Agnieszka Flak)</p> </body></p>