Hochtief: no recovery following Atlanta transaction

(CercleFinance.com) - The Hochtief share is only timidly recovering this morning in Frankfurt (+0.
4%), after falling over 10% yesterday.
Indeed, the Italian group Atlantia executed a hedging transaction involving about a third of its stake, or about 8% of the German construction group's capital.

Atlantia has entered into a securities lending agreement with Goldman Sachs International, by which it sold approximately 4.35 million Hochtief shares in blocks to institutional investors - probably at a significant discount - judging by the fall in the share price yesterday.

In so doing, the group from Rome is limiting its exposure to a potential fall in the Hochtief share price, while also reducing its debt.

According to the latest news, Atlantia held nearly a 24% stake in Hochtief, and was therefore the second largest shareholder after the Spanish group ACS (50.4% share).



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