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.
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