By Cecilia Butini 
 

Atlantia SpA said Thursday that it has agreed to establish a new company called Autostrade Concessioni e Costruzioni SpA to acquire the assets resulting from the spinoff of Autostrade per l'Italia, including Atlantia's stake of up to 88% in the motorway operator.

"The company is being established in readiness for the planned proportional spin-off and subsequent stock market flotation," Atlantia said.

The Italian infrastructure operator said the spinoff plan and transaction will need to be approved by the company's board of directors.

It said a possible direct sale of Atlantia's 88% stake in motorway operator Autostrade per l'Italia is still an alternative to the spinoff as previously announced.

 

Write to Cecilia Butini at cecilia.butini@wsj.com

 

(END) Dow Jones Newswires

September 03, 2020 10:38 ET (14:38 GMT)

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