Atlantia Says No Binding Offer For AdR

Italian motorway operator Atlantia has denied a press report saying it had received binding offers for its 30 percent stake in its airport unit Aeroporti di Roma (AdR).

"The group is still evaluating timing, modalities and potential partners for the deal," Atlantia said, adding its expectations on the deal's value were "substantially higher than those indicated."

On Tuesday, Il Messaggero daily said the toll-road operator would seal a deal by the end of October to sell 15 percent of AdR to Chinese fund Gingko Tree and another 15 percent to Abu Dhabi sovereign fund Adia.

The newspaper said the company would pocket EUR€1 billion (USD$1.12 billion) from the deal.