Atlantia (company)

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Atlantia Spa
Formerly
Autostrade Spa
Società per Azioni
Traded asBITATL
FTSE MIB Component
IndustryTransportation
Key people
Giovanni Castellucci (CEO), Fabio Cerchiai (Chairman),
Revenue€ 11.3 billion (2018)[citation needed]
€ 2.32 billion (2016)[citation needed]
€ 818 million (2018)[citation needed]
Total assets€ 38.78 billion (2016)[citation needed]
Total equity€ 10.01 billion (2016)[citation needed]
Number of employees
31000 (2018)
SubsidiariesAutostrade per l'Italia S.p.A., Abertis Infraestructuras SA, Aeroporti di Roma - ADR S.p.A., SPEA Engineering S.p.A., Pavimental S.p.A., Telepass S.p.A.
Websitewww.atlantia.it/en/

Atlantia Spa (formerly Autostrade Spa) is an Italian holding company operating motorways and airports.

It is a leading company in the world active in the motorway, airport infrastructure and transport services sector, with an extensive presence in 16 countries.[citation needed]

The group manages 14,000 kilometers of toll motorways, Fiumicino and Ciampino airports in Italy and the three airstrips of Nice, Cannes-Mandelieu and Saint Tropez in France with more than 60 million passengers a year.[1]

It is listed on the Borsa Italiana and is a constituent of the FTSE MIB index.

The main shareholders are: Edizione (a company of the Benetton Family), GIC Pte Ltd, the CRT Foundation, Lazard Asset Management, HSBC Holdings.[2]

Even if the main motorways in Italy are owned by Atlantia company, some mantenance works are operated by ANAS state owned company.

History[edit]

1950–2000: Foundation and consolidation[edit]

Founded in 1950 as Autostrade,[3] when the company Concessioni e Autostrade S.p.A. was created, it aimed to give a significant contribution, cooperating with other Groups, to the post-war reconstruction of Italy.

By the first agreement between ANAS signed in 1956, the companies were committed in co-financing, building and managing the Autostrada Del Sole, between Milan and Naples, inaugurated in 1964.[4] Between 1962 and 1968, the Company was granted the concession for the construction and operation of other motorways. In 1982 it was acquired by Italstat and in 1987 Autostrade Concessioni e Costruzioni S.p.A. was listed on Borsa Valori of Milan.

In 1999 the Autostrade company was privatized;[5] the consortium led by Schemaventotto S.p.A. (Edition of Benetton Group 60%, Fondazione CRT with 13.33%, Acesa Italia with 12.83%, Assicurazioni Generali and Unicredito Italiano both at 6.67% and Brisa International SGPS SA with 0.50%) and another one pulled by the Australian bank Macquarie, who retreated at last, were the other groups in the line.

With the 30% of the capital, Schermaventotto S.p.A. takes over the IRI Group, which was the reference shareholder. They did the only binding purchase offer for the share package paying IRI € 5,050 billion; the remaining 56% of the shareholding held by IRI was intended to the stock market by a public sale offer which led to obtain 8.75 billion lire, for a total sum for IRI of 13.800 billion lire.

In January 2003 Newco28 made a tender offer, through a leveraged buyout operation: they found the liquidity necessary for the acquisition using the system credit and, consequently, the debt was transferred from Newco28 to Autostrade, following a merger by incorporation.

2003 was marked by a massive reorganization of the group, the concession activities were separated from non-motorway activities and Autostrade per l'Italia S.p.A., a subsidiary of Autostrade (now Atlantia S.p.A.), was established.

2000–Present: Company renamed as Atlantia Spa[edit]

During the 2005 a process of geographical diversification began with the acquisition of the management of approximately 2,000 km of toll motorways in Brazil, Chile, India and Poland.[6] In 2007, the Board of Directors approved the change of name into Atlantia S.p.A.[7]

In 2013, the merger by incorporation of Gemina S.p.A.,[8][9] the majority shareholder of ADR (Aeroporti di Roma) into Atlantia, was concluded, with the consequent aggregation of a second core business in addition to the motorway concessions. Atlantia’s acquisition of Aéroports de la Côte d’Azur, the company that controls the airports of Nice, Cannes-Mandelieu and Saint Tropez, consolidated the Group’s presence in the airport sector.[10]

During the summer of 2017, Atlantia declared the intention to make a tender offer on all the issued shares of Abertis Infraestructuras, and in October 2017 the Comision Nacional del Mercado de Valores authorized this. Just over a week later the Hochtief – Acs Group launched a bid against the tender offer to acquire the Spanish company. In March 2018 Atlantia and Hochtief-Acs reached an agreement for a joint offer for the control of Abertis,[11] which was finalized in October 2018. To acquire 98.7% of the capital of Abertis the parties invested 16,5 billion euros. In March 2018 Atlantia S.p.A bought 15,49% of Getlink, the company that controls the Channel Tunnel.[12]

Controversies[edit]

2018: Morandi Bridge Collapse[edit]

On 14 August 2018, the Atlantia Spa owned Morandi Bridge collapsed causing the death of 39 people.[13]

References[edit]

  1. ^ "non trovo h1 - Borsa Italiana". Borsaitaliana.it. Retrieved 24 May 2019.
  2. ^ "ATLANTIA : Shareholders Board Members Managers and Company Profile - IT0003506190". Marketscreener.com. Retrieved 24 May 2019.
  3. ^ "Autostrade per l'Italia SpA: Private Company Information - Bloomberg". Bloomberg.com. Retrieved 24 May 2019.
  4. ^ "The construction of Italy's Autostrada del Sole in 1964 — Italianmedia". Ilglobo.com.au. Retrieved 24 May 2019.
  5. ^ "PRIVATISATION, REGULATION AND PRODUCTIVITY IN THE ITALIAN MOTORWAY INDUSTRY" (PDF). Retrieved 24 May 2019.
  6. ^ "Infrastructure Channel: What matters when planning an infrastructure investment". Infrastructure-channel.com. Retrieved 24 May 2019.
  7. ^ "Archived copy". Archived from the original on 2019-04-03. Retrieved 2019-04-03.CS1 maint: Archived copy as title (link)
  8. ^ "Atlantia SpA : Merger of Gemina with and into Atlantia". Marketscreener.com. Retrieved 24 May 2019.
  9. ^ "Atlantia and Gemina merge and give birth to Italian champion - Infrastructure Finance & Investment". Infrapppworld.com. 13 March 2013. Retrieved 24 May 2019.
  10. ^ "Atlantia Investor Briefing" (PDF). Infrastructure-channel.com. Retrieved 24 May 2019.
  11. ^ "Atlantia and ACS-Hochtief agree to jointly acquire Abertis - Infrastructure Finance & Investment". Infrapppworld.com. 16 March 2018. Retrieved 24 May 2019.
  12. ^ "Atlantia Acquires a 15.49% Stake in Eurotunnel (Getlink)". Businesswire.com. 2 March 2018. Retrieved 24 May 2019.
  13. ^ "Ponte Morandi Genova, chi sono i morti. Tutti i nomi". Quotidiano.net. Retrieved 24 May 2019.

External links[edit]