Astaldi S.p.A. has sold its interest in the Third Bosphorus Bridge project in Turkey to IC Ictas Sanayi ve Ticaret A.S. to improve liquidity amid financial restructuring struggles.
Information on the Target
Astaldi S.p.A. is a prominent international construction company based in Italy, specializing in large-scale infrastructure projects. The company has been actively involved in a range of sectors including transport, water, energy, and environmental services, making it a key player in Europe and beyond.
Recently, Astaldi has faced financial challenges, leading to restructuring efforts and negotiations with creditors. The company’s strategy includes divesting certain assets to enhance liquidity and focus on its core operations, which is critical in the current economic climate.
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Industry Overview in Italy
The construction industry in Italy has faced significant hurdles due to economic fluctuations and external pressures, including the COVID-19 pandemic
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IC Ictas Sanayi ve Ticaret A.S.
invested in
Third Bosphorous Bridge in Turkey
in 2020
in a Other Private Equity deal