ASTALDI: START OF PRELIMINARY ACTIVITIES FOR THE SALE OF THE THIRD BOSPHOROUS BRIDGE
Rome, 2 December 2019 – Following the authorisation obtained from the Insolvency Division of the Court of Rome (hereinafter, the “Court”), Astaldi S.p.A. (the “Company”) informs to have started the preliminary activities for transferring to IC Ictas Sanayi ve Ticaret A.S. (“Ictas”) its interest in the assets of the concessionaire for the Third Bridge over the Bosphorus in Turkey.
The transfer agreement – evaluated by the Court at the time of its authorisation of a broader settlement agreement with Ictas as offering the best protection of creditors within the composition procedure that the Company is currently carrying out – should be seen in the context of the negotiations aimed at the disposal of the concession and includes terms and conditions that are consistent with the composition proposal filed by the Company.
Reference should be made to the documents related to the composition procedure already disclosed to the public on 7 October 2019, available on the website www.astaldi.com. The Company reserves the right to provide additional information upon closing of the transaction.
ASTALDI GROUP is a global player in the sector of large and strategic infrastructure projects. The Group has 95 years of experience at international level 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 Group has unrivalled experience in Transport Infrastructure, Energy Production Plants, Civil and Industrial Construction, Facility Management, and Plant Engineering and Management of Complex Systems. Listed on the Milan Stock Exchange since 2002, Astaldi is headquartered in Italy and operates mainly in Europe (Poland, Romania) and Turkey, Africa (Algeria), North America (Canada and the USA), Latin America. On 28 September 2018, the Company submitted to the Court of Rome an application for composition with creditors procedure pursuant to art. 186-bis, R.D. of 16 March 1942, no. 267 as subsequently amended and supplemented; said application was accepted on 5 August 2019 and the procedure is currently underway.