Atlantia scraps share buyback lo let units qualify for state-backed loans

© Reuters. FILE PHOTO: An Atlantia Group sign outside its headquarters in Rome

MILAN (Reuters) – Atlantia ‘s (MI:) shareholders on Friday voted to revoke an ongoing share buyback in order to allow group’s units access to state-guaranteed loans, the infrastructure group said.

“This decision is motivated by reasons of prudence, following the emergency situation resulting from the COVID-19 outbreak,” the group also said in a statement.

Atlantia’s motorway unit Autostrade per l’Italia has filed a request to get banking loans for up to 1.25 billion euros guaranteed by state-owned credit export agency SACE.

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