Grand bargain can end Italian toll-road standoff LJucca
Italian Transport Minister Danilo Toninelli said on July 3 the government will propose revoking Atlantia’s Italian motorway concession without compensation because of last year’s tragic bridge collapse in Genoa.
Atlantia is estimated to generate EBITDA of 7.5 billion euros in 2020 according to Refinitiv data. Autostrade per l’Italia , the company that manages the Italian toll-road concession, currently contributes around 30% of total EBITDA. Atlantia owns nearly 90% of ASPI. Atlantia has said revoking the concession would trigger an obligation for the state to pay an indemnity for the loss of future cash flow, which industry sources estimate at around 24 billion euros.
Shares in Atlantia dropped nearly 30% after the bridge collapse, but later recovered. They were trading at 23.51 euros by 0800 GMT on July 4, some 9% below their 12-month high of 25.88 euros.
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