Texas Pacific Declines Comment On Alitalia
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Texas Pacific Group has declined to comment on an Italian newspaper report that, along with its bidding partners, it has earmarked EUR5 billion euros (USD$6.8 billion) to buy Alitalia.
«We are making no comment on that,» a spokesman for the US private equity company said.
La Stampa reported on Monday that TPG and its consortium partners had earmarked EUR1.2 billion euros for the bid, worth under 0.50 euros per share. The remaining EUR3.8 billion would be for an investment plan for the Italian airline.
TPG is bidding for the Italian state's controlling stake in Alitalia along with another US private equity firm, MatlinPatterson, and Italian merchant bank Mediobanca.
Texas Pacific Group is one of the few large private equity firms interested in the airlines sector, and is also bidding for a stake in Spain's Iberia.
There are two other shortlisted bidders for the stake of at least 39.9 percent of the company -- Russia's Aeroflot, and Air One, Italy's second biggest airline.
(Reuters)
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