Chinese Demand Shares of Astaldi, the Italian Partner of YSS Bridge

Talks of the Chinese investor group on the Yavuz Sultan Selim Bridge for 33 share of the 10 percent share in Astaldi's share have accelerated. Sources say Astaldi, based in Rome, aims at realizing the agreement by the end of the year.

Astaldi wants to sell its shares in the third bridge and connecting roads, while sources say that other Chinese companies are negotiating to join the consortium. According to one source, the Chinese group of investors appraises about 1 billion dollars to bridge assets.

According to sources, the final agreement cannot yet be reached, but the public-owned China Merchants Group can also decide not to bid.

Astaldi relies on cash to come from the agreement to increase its capital and pay its debts. Italy's second-largest construction company, in August, after the depreciation of the lira to stop the negotiations after the 2,5 billion euros in borrowing to apply for the road.


Chinese group in June, the third bridge assets, the bridge in the hands of the consortium in the hands of the 1,4 demanded a valuation of billion dollars.

According to Astaldi's May investor presentation, the company sees these assets at 350 million euros. A source close to the subject said that the Chinese investor consortium is in talks with London-based Centricus Asset Management.

Another source reported that the South African infrastructure fund, Harith General Partners, was interested in Astaldi's share, but decided not to bid later.

The representative of Hong Kong-based China Merchants Group did not comment on the issue. Astaldi, Centricus and Harith General did not comment on the issue.

Source : I



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