CLIENT : Salini Impregilio

TRANSACTION: M&A

DATE: August 2019

SECTOR: Industrial

Deal description:
Within the context of a project aimed at strengthening the national sector of public works and construction (“Progetto Italia”) Salini Impregilo has signed agreements with Cassa Depositi e Prestiti and the main financial institutions worth cumulatively about €1.8bn.
In particular, the development of Progetto Italia aims at implementing:
aggregation with other Italian sector operators characterised by industrial excellence in diverse segments of the construction and infrastructure market in order to enhance efficiency within the Group, by means of economies of scale and scope
greater capitalisation and financial flexibility that will allow for greater investment capabilities in new technologies, in health and safety and, more generally, in process innovation.

The financial package supporting Progetto Italia includes:
€600m f Salini Impregilo’s share capital subscribed by Cassa Depositi e Prestiti, Salini Costruttori, some financial institutions and the market;
€225m of share capital increase in Astaldi subscribed by Salini Impregilo
the issue of new credit lines for both Salini Impregilo and Astaldi
the extension / refinancing of part of Salini Impregilo’s corporate loans
Vitale&Co acted as a financial advisor of Salini Impregilo assisting the company defining the structure and the terms of transaction, managing the due diligence activities and negotiating the agreements with counterparts.

Deal value: €1.8bn

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