Revocation of the concession, Toto collects 1.2 billion

Revocation of the concession, Toto collects 1.2 billion

The key points

  • The interministerial decree
  • The letter from the Mit

An initial compensation and the convening of a government table to definitively close the dossier. The tormented story of Strada dei Parchi (SdP), the company of the Toto group which a year ago the Draghi government had revoked the concession of the A24 / A25 motorways, arguing that it had not carried out the necessary maintenance of the viaducts, has been unblocked. Now, after the courts of L'Aquila and Teramo have acquitted the top management of the company because "the fact does not exist", the government has decided to intervene to remedy the situation.

The interministerial decree

The first step is an interministerial decree, signed by ministers Matteo Salvini and Giancarlo Giorgetti, approved on 7 July 2023, which recognizes an initial compensation of 1.2 billion euros to SdP. Il Sole 24 Ore took possession of it and on page 5 we read that the intention is to «provide, pursuant to and by effect of article 7-ter, paragraph 11, of decree-law no. 68 of 2022 (Draghi law) to determine the amount envisaged pursuant to article 35, paragraph 1, fourth sentence, of decree-law no. 162 of 2019".

To this end, MIT (Ministry of Infrastructure and Transport) has entrusted the task of assessing the amount to an independent auditing firm, E&Y, which established the due in about 1.2 billion – to be exact – figure that the decree he made his own.

With this money, on the one hand, it is established that the residual concession price to be paid to theAnas (the annual installments established at the time with the European tender that won SdP) for 830 million (actually after deducting the 2017 and 2018 installments, postponed by law and for which the conditions for payment have not been met, Anas net 720 million), while with the remaining part of the compensation, just under 480 million, the Toto group company will pay 100% of the suppliers and will fully recover from the bank exposure.

And this will allow it to respect the commitments of the arrangement with creditors presented in April, made indispensable by the fact that last year's expropriation decree had deprived it of any form of revenue. Passage, this of the closing in bonis of the composition, which will be sanctioned only after the judge of the Civil Court of Rome has definitively resolved on 28 July.

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