Italy’s government has set a 10% limit on the size stake it could retain in national carrier Alitalia after its privatisation.
The Italian government currently holds a 49.9% stake in the airline, but at the end of last year launched a tender to sell at least a 30.1% stake.
Now in a document further outlining the offer sent to the five shortlisted groups interested in bidding, the finance ministry says it plans to sell no less than a 39.9% stake in the carrier. This would leave it with a maximum holding of 10% in the airline.
The five shortlisted for the next round of the privatisation include US private equity firms Texas Pacific and MatlinPatterson; equity fund Management and Capitali grouping which features hedge fund Cerberus European Investments and Goldman Sachs’ ELQ Investors; Italian bank Unicredit and Air One chief Carlo Toto’s AP Holdings investment vehicle.
Interested parties have until 16 April to submit non-binding preliminary bids.
Source: FlightGlobal.com
