Deals
Astaldi May Fetch More Than What It Needs in Istanbul Bridge Sale
- Value of stake could help assure success for rights offering
- Builder is eyeing sale after writing down Venezuela exposure
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Prospects for a planned share sale by Italian builder Astaldi SpA may be enhanced after a potential buyer for a bridge over the Bosphorus valued the Italian builder’s 33 percent stake in the asset at as much as $462 million, according to people familiar with the matter.
A joint venture including London-based fund Centricus Asset Management, a Chinese investor and Turkish investment group Global Yatirim Holding AS set an equity valuation for the operator of a highway bridge over the Turkish strait at $1.3 billion to $1.4 billion, said the people, who asked not to be identified as the matter is private.