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Mundys (formerly: Atlantia SpA) M&A Activity 2022
6228_rns_2022-09-15_81a36b8a-e613-4e81-97d8-4f0e2c48c1cf.pdf
M&A Activity
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Press Release
ATLANTIA: SALE TO ACS OF THE ENTIRE STAKE HELD IN HOCHTIEF
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.
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