Aleatica S.A.U. announced an agreement to acquire from Intesa SanPaolo its controlling equity interests associated with Societa’ di Progetto Brebemi S.p.A. (Brebemi).

The transaction has been worked on over several months and agreed on a bilateral basis under an exclusivity agreement with ISP, which is Italy’s largest bank.

Brebemi operates a 62 km toll road that commenced operations in 2014 and connects Milan and Brescia, in the Lombardy region of Italy which is one of the most affluent and industrialized regions in the country and Europe. Brebemi operates under a long-term concession agreement, which expires in 2040.

The transaction is subject to certain regulatory approvals and consents. It is expected that financial close could occur not earlier than October 2020. Aleatica was advised by Goldman Sachs International as a financial advisor and by BonelliErede as a legal advisor.