UPDATE 1-Atlantia, SIAS to merge Chile ops

* Merger pools stakes in Santiago motorway concessions

* Merger values combined company at 1.147 bln euros

* Combined company could be listed
(Adds details, background, shares)

MILAN, July 12 (BestGrowthStock) – Italian motorway operators
Atlantia SpA (ATL.MI: ) and SIAS (SIS.MI: ) said on Monday they plan
to merge their Chilean operations into a billion-euro company,
which may be listed.

At end-June, Atlantia and SIAS filed their plan to merge
Societa Autostrade per il Cile srl (APC) and Societa Autostrade
Sud America srl (ASA) with the Milan registry, they said in a
statement requested by market regulator Consob.

“The merger … is in the framework of boosting the value of
ASA-APC and with a view of a possible listing on one or more
regulated stock markets,” they said in a joint statement.

As a result of the merger, Atlantia and SIAS will each have
a 45.7 percent stake in the combined ASA-APC worth 524 million
euros ($660 million), based on the expert valuations used for
merging the companies via a share swap, they said.

On Reuters calculations the merged company will have a 1.147
billion euro total value.

Currently, Atlantia’s Chilean assets are valued at 131
million euros and SIAS’ at 125 million euros, they said.

Mediobanca’s (MDBI.MI: ) 10 percent stake in ASA will be
diluted by the operation, the companies said.

The expanded ASA will hold a series of stakes in concessions
in the Santiago metropolitan area, it said.

Atlantia is controlled by the Benetton family and SIAS by
the Gavio family.

Atlantia shares closed down 0.13 percent at 15.50 euros.
SIAS was up 0.91 percent at 7.20 euros. Milan’s FTSE Italia
All-Share index (.FTITLMS: ) was up 0.18 percent.
($1=.7939 Euro)
(Writing by Nigel Tutt; editing by Simon Jessop)

UPDATE 1-Atlantia, SIAS to merge Chile ops