Spanish developer Abertis has closed the €594 million acquisition of 51.4 percent of Italian industrial group A4 Holding after the deal was approved by the Italian government.
Abertis will manage Italy’s A31 and A4 toll roads until December 2026, the latter of which is the country's third busiest toll road. They were acquired from Italian lender Intesa, developer Astaldi and the Tabacchi family.
After approval from the Italian government last month, A4 Holding will invest in a road corridor connecting the Astico, Sugana and Adige valleys. The authorities’ endorsement of the plan allowed the company’s acquisition by Abertis to complete.
“Our presence in legally stable countries committed to concessional and well-established pay-per-use systems allows us to efficiently develop our long-term investment plan,” Francisco Reynés, vice-chairman of Abertis, said in a statement.
The move marks the Spanish company’s first investment in Italy since 2006 after a €14 billion planned merger with Autostrade, now known as Atlantia, failed to close due to “insurmountable material obstacles”, including legal wranglings with the Italian government and the European Commission.