Italy govt says CDP to take majority in Autostrade to end concession dispute

The Italian government has received new proposals from Autostrade and its parent company Atlantia and has started a legal process to settle a dispute over the group's motorway concession, it said at the end of a night-long meeting.

Under the new settlement offers, Italy's state lender Cassa Depositi e Prestiti (CDP) will take a majority stake in Atlantia's motorway unit Autostrade per l'Italia and the company will be spun off and listed, the government said, confirming what sources had previously told Reuters. Alternatively, Atlantia has proposed to sell its entire 88% stake in Autostrade to CDP and other institutional investors, the government said in a statement.