Board approves rationalization and leveraging of equity investment

Press release

Board approves rationalization and leveraging of equity investment

Rome, 27 November 2013 - The Board of Directors of Cassa Depositi e Prestiti Spa (CDP), meeting today under the chairmanship of Franco Bassanini, approved a series of transactions designed to rationalize and leverage CDP’s portfolio of equity investments.

Rome, 27 November 2013 - The Board of Directors of Cassa Depositi e Prestiti Spa (CDP), meeting today under the chairmanship of Franco Bassanini, approved a series of transactions designed to rationalize and leverage CDP’s portfolio of equity investments.

Network companies

  • The Board approved the start of preparatory work for the transfer to CDP RETI Srl (CDP RETI) of its entire holding – 29.85% - in Terna Spa (Terna). CDP RETI is a wholly-owned subsidiary of CDP and current owner of about 30% of SNAM Spa (SNAM).  The purpose of the transaction is to make CDP RETI more attractive to other investors, while maintaining CDP’s controlling interest. Potential investors – with whom the advisor, Lazard, has already initiated contacts – will be asked to submit non-binding offers.

SACE and Fincantieri

  • The Board also approved the start of preparatory work to assess the feasibility and identify alternative options for the opening of SACE Spa (SACE) and Fincantieri Spa (Fincantieri) capital to third-party investors, including a possible IPO, as part of the growth and development of those companies, fostered by the arrival of new investors.
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