Ita Airways, the offer of MSC and Lufthansa arrives for 80% of the company – Corriere.it

On the afternoon of July 5, MSC and Lufthansa sent the new binding offer to the Ministry of Economy to take over the majority of Ita Airways, the airline that took over from Alitalia on October 15. how much the Corriere della Sera from ministerial sources. In the evening, the envelope of Certares, the US private equity fund rival in the match for the privatization of Ita, would also be sent. The Ita data room was closed at 5:59 pm on 5 July and the two parties had until 11.59 pm on the same day to send the package.

The evaluation

For now, few details emerge that confirm what was anticipated by this newspaper: the valuation of the Italian airline, according to the new offer of MSC and Lufthansa, should have decreased compared to that of last May from one billion to 800-850 million euros: two giants aim to have 80% of the airline, leaving 20% ​​to Mef. Certares’ offer is also expected to contain a value cut from 600-800 million to 500-600 million, with a more vague indication of the distribution of the shares.

The stages

This time the Mef – who is the sole shareholder of Ita and director of the privatization operation – asked that the offers include not only the industrial plan and the economic evaluation, but also the governance approach. It is then up to the Treasury and its advisors (Equita and Gianni & Origoni) to make a first point and send their evaluations to Palazzo Chigi. It will be up to Prime Minister Draghi to make the final decision.

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