ASTALDI: FILING OF AN UPDATED VERSION OF THE COMPOSITION WITH CREDITORS’ PROPOSAL AND OF THE RELATED PLAN
Rome, 19 June 2019 – Following the press release of May 21, 2019, Astaldi S.p.A. (hereinafter, also referred to as the “Company”) informs that, in the context of its pending composition with creditors proceeding before the Court of Rome, it has filed at the same Court a note aimed at giving all the clarifications requested by the Court by order dated 19 April 2019 and at illustrating the solutions the Company has found with respect to the issues raised by such order. In the context of the aforementioned note it has moreover been given an update on the composition with creditors’ proposal, the plan and the expert’s opinion, in order to take into account, on the one hand, the matters highlighted by the Court itself and, on the other hand, of the events which have taken place after the filing, performed on 14 February 2019, the Plan and the Composition with Creditors’ Proposal on a going concern basis pursuant to articles 161 and 186-bis R.D. 267/1942 as subsequently amended and supplemented.
In particular, through the updates filed today, the Company has provided to the Court more details on certain technical steps related, inter alia, to the modalities of segregation of the assets aimed at satisfying the unsecured creditors, and has provided details concerning the transanctions that will lead to the subscription of the share capital increase of the Company.
In addition, on 18 June 2019 the Company received from Salini Impregilo S.p.A. formal confirmation of the interest of the latter to pursue the transaction aimed at the financial and economic strengthening of the Company, also after the above mentioned updates of the Plan and the Composition Proposal, in the context of the broader “Progetto Italia”.
For the sake of completeness, please refer to the press releases disclosed by the Company on 14 February 2019, 8 April 2019 and 21 May 2019.
The Company shall provide subsequent market disclosures as soon as updates regarding the proceeding will be available.
Astaldi Group is a global player in the sector of large and strategic infrastructure projects. With a leading position in Italy, Astaldi is one of the world’s top 50 construction firms, one of Europe’s top 25 contractors, and is also a sponsor of project finance/PPP initiatives. The Group has 95 years of experience and operates in a wide range of sectors, delivering complex and integrated projects. Designing, building, and operating public infrastructures and large-scale civil engineering works, Astaldi has unrivalled experience in Transport Infrastructure, Energy Production Plants, Civil and Industrial Construction, Facility Management, Plant Engineering, and Management of Complex Systems. In 2017 revenues totalled more than €3 billion, with a total order backlog of over €24 billion. Listed on the Milan Stock Exchange since 2002, Astaldi is headquartered in Italy and and based in Italy, Europe and Turkey, Africa (Algeria), North America (Canada and the USA), Latin America and the Far East (Indonesia, India).
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