The bidding process is opening for a major Italian highway business

The tender process has opened for a major highway business in Italy. The sale is for an 80.5% stake in highway operator Autostrade Milano Serravalle-Milano Tangenziali (Milano Serravalle). The deal is expected to be worth more than €1 billion in all. The packages for sale are the 52.9% held by the province of Milan through holding Asam; the 18.6% held by the municipality of Milan, and the 9% held by the municipalities of Lecco, Como and Pavia and the provinces of Como and Pavia. The basic cost of the tender
October 16, 2012 Read time: 2 mins
The tender process has opened for a major highway business in Italy. The sale is for an 80.5% stake in highway operator 6728 Autostrade Milano Serravalle-Milano Tangenziali (Milano Serravalle). The deal is expected to be worth more than €1 billion in all. The packages for sale are the 52.9% held by the province of Milan through holding Asam; the 18.6% held by the municipality of Milan, and the 9% held by the municipalities of Lecco, Como and Pavia and the provinces of Como and Pavia. The basic cost of the tender will be around €645 million. There will also be €350-400 million required to support the Milano Tangenziali and Pedemontana highway projects. But the Milano Serravalle business has €300 million of debts. The chambers of commerce for Como, Pavia and Milan have all said they are not taking part in the deal and will retain control of a total of 5.6% of Milano Serravalle.

For more information on companies in this article

Related Content

  • Revenue crash hits giant European contractor STRABAG SE
    November 30, 2012
    One of Europe’s biggest construction groups, STRABAG SE, is facing tough trading conditions with “earnings significantly down,” according to its latest quarter three report. Chief executive Hans Peter Haselsteiner told World Highways that the central and east European specialist is fighting its way through a continuing downturn. “Conditions in the construction sector are becoming more difficult than we have been accustomed to in recent years,” he said. And this has been the case since “our half-year results
    Read More
  • JCB’s diamond deal for 1,000 backhoes
    April 12, 2013
    JCB has won a massive order for over 1,000 of its backhoe loaders in a deal which is designed to transform the rural economy of Brazil. Brazil's Ministry of Agrarian Development has signed a tender for the JCB 3C backhoes worth more than £40 million (US$60 million), as the company marks 60 years of backhoe loader production. The machines will be delivered throughout 2013 and put straight to work improving rural roads to ensure food produced for sale gets to market much quicker. The machines will be man
    Read More
  • More tenders for Lower Thames Crossing
    April 1, 2021
    The winners will build 23km of road connecting to the UK’s longest road tunnel.
    Read More
  • India plans major infrastucture investment
    February 10, 2012
    India says it turned its Commonwealth Games into a world-class success, and now it aims to do the same with its infrastructure. Patrick Smith reports. On October, 2010 India put itself on the world stage, and disaster appeared to loom as a catalogue of problems dogged its biggest ever sporting event. Costing nearly US$2 billion to stage, the most expensive Commonwealth Games ever were, according to some, in doubt.
    Read More

Highlighted Content