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This is how Gavio with Alfano will speed along the external ring roads of Milan

4 months ago babelfish

This is how Gavio with Alfano will speed along the external ring roads of Milan

Autostrade, Gavio (Astm) takes control of Milan's external ring roads. Agreement with Aspi and Pizzarotti: 230 million operation. Facts and numbers

The external ring roads of Milan pass into the hands of Astm with an operation that exceeds 200 million euros. The Gavio family group, which operates in over 15 countries, has signed an agreement with Autostrade per l'Italia (Spi) to obtain control of Milan's external ring roads (Tem). Aspi sells to the Astm group its direct and indirect holdings in Tem, 27.45%, as well as a 50% shared share with Satap, and in Tangenziale Esterna (Te), equal to 1.25%, together with the credit deriving from the shareholder loan provided by Aspi and Amplia Infrastructures to Te itself.

AN OPERATION THAT EXCEEDS 200 MILLION EUROS

The value of the operation exceeds 200 million euros. Astm will pay Aspi 140 million, of which approximately 121.9 for the shares and 18.1 for the credit, and to the Pizzarotti group, which held 10.7% of in Te, equal to 10.17% of the capital of Tangenziale Esterna . Astm already held 50% of Tem, in addition to a 50% share with Aspi, and 24.92% of Te, at the end of the transactions it will reach 77.45% of Tem and 73.83% of You. In particular, as stated in the note released informing of the operation, the change of ownership, from ASPI to ASTM, provides for:

  • 80,645,753 TEM shares held by ASPI;
  • 50% of the TEM share held by ASPI jointly with SATAP SpA;
  • 4,649,450 TE shares held by Amplia;
  • 1,162,363 TE shares held by ASPI;
  • of the credit deriving from the shareholder loan provided by ASPI and Amplia in favor of TE (totalling approximately 8.9 million euros in principal, in addition to the related accrued and unpaid interest).

TEM directly holds 48.40% of TE which manages the 32 km long toll motorway (A58) which connects Agrate Brianza (A4 motorway) and Melegnano (A1 motorway). The company operates under a concession, started in 2015, expiring in 2065. Around 30,000 vehicles travel on the TE every day, with revenues of around 80 million euros in 2023 (+14.2% vs. 2022) with an EBITDA of 56 million euros.

CEO TOSONI'S COMMENT: EXTERNAL RING ROAD IS A STRATEGIC ASSET

“Tangenziale Esterna is a strategic asset for the ASTM Group, located in the heart of the metropolitan area of ​​Milan and the Lombardy region, one of the most industrialized and richest areas in Europe”. This is what Umberto Tosoni , CEO of the Astm group since 2019, says. Tosoni has a long experience in the world of motorway concessionaires: he held the position of CEO of SATAP, Turin-Milan, Autostrada dei Fiori, Autostrada Asti Cuneo, and SITAF Traforo del Frejus and in 2018 by SIAS SpA, a holding company in the sector listed on the stock exchange. Following the merger between SIAS and ASTM in December 2019 he became CEO of ASTM. The president of the group is Angelino Alfano, former minister of Justice, Interior and Foreign Affairs, as well as a member of parliament and, between 2013 and 2014, vice-president of the Council of Ministers. Lawyer Alfano is an expert in civil and business law as well as international relations and economic diplomacy, he is a partner of the Bonelli Erede law firm, president of the De Gasperi Foundation and of the San Donato group (private clinics).

WHAT DOES THE ASTM GROUP DO?

The Astm group, as reported on its online portal, is "among the main infrastructure players at a global level in the management of motorway networks under concession, in the design and implementation of EPC projects and in technology applied to mobility". The group has approximately 16,500 employees and collaborators and manages a network of approximately 6,200 km, of which over 1,400 km in Italy, 4,700 km in Brazil through the EcoRodovias company and 84 km in the United Kingdom through the subsidiary Road Link. These numbers allow ASTM to manage more than 1.5 million transits per day and make it the second operator in the world in the management of motorway infrastructure.

THE NUMBERS OF THE ASTM GROUP

The share capital of Astm amounts to 36,788,507.50 euros, divided into n. 73,577,015 ordinary shares. 85.4% of the shares belong to Nuova Argo Finanziaria SpA, a company controlled by Aurelia (50.5%), holding company of the Gavio Group , and participated by Ardian (49.5%) through Mercure Investment and Mercure Holding 2; the remaining 14.6% are treasury shares.

ASTM'S BUSINESS VOLUME EXCEEDED 4 THOUSAND EUROS IN 2023

In 2023 the Astm group's turnover stood at 4,022.7 euros, a clear increase compared to the 3,372.8 of the previous year. A positive sign also for net toll revenues in Italy, which went from 1,436.1 in 2022 to 1,500.5 in 2023, and in Brazil, which grew from 635.7 to 1,004.8. EBITDA went from 1,305.2 to 1,888.6, while profit from 39.8 to 188.4. These positive numbers have allowed investments in Italy of 828.5 million euros and in Brazil 638.9 million.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/ecco-come-gavio-con-alfano-sfreccera-sulle-tangenziali-esterne-di-milano/ on Mon, 13 May 2024 14:01:29 +0000.