ASTALDI: THE DATE OF THE JUDGEMENT SITTING FOR APPROVING THE COMPOSITION WITH CREDITORS HAS BEEN SET
Rome, 5 May 2020 – Astaldi S.p.A. informs that the Court of Rome, Insolvency Division (the “Court”), with a special decree set for 23 June 2020, at 11:00 o’clock am (CET), the judgement sitting for approving the composition with creditors as per art. 180 of the Italian Insolvency Law.
The decree takes note of the conclusion of the voting procedures regarding the proposal for a composition with creditors on a going concern basis (concordato preventivo in continuità aziendale) submitted by Astaldi to the Court, where the proposal was approved with a majority equal to 69.4% of the credits with the right to vote which, as a whole, amount to approximately EUR 3,017 million. This figure takes into account the votes validly cast at 9 April 2020 (58.32% of votes in favour), as well as the additional votes in favour validly cast during the following twenty days after the meeting (11.08%), in compliance with the provisions of art. 178 of the Italian Insolvency Law.
ASTALDI GROUP is one of the main Contractors worldwide in the field of complex and strategic infrastructure projects. Active for 95 years at an international level, the Group develops initiatives within the fields of design, construction and management of public infrastructures and large civil engineering works, mainly in the areas of Transportation Infrastructures, Energy Production Plants and Civil and Industrial Buildings, Facility Management, Plant Design and Engineering and Complex Systems Management. Listed on the Milan Stock Exchange since 2002, Astaldi is based in Italy and operates mainly in Europe (Poland, Romania) and Turkey, Africa (Algeria), North America (Canada and the United States) and Latin America. On 28 September 2018, the Company filed an application with the Court of Rome for admission to the composition with creditors procedure pursuant to Article 186-bis, Royal Decree no. 267 of 16 March 1942, as amended and supplemented; this application was accepted on 5 August 2019 and the procedure is still pending.
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