IC-Içtas Insaat Sanayi ve Ticaret A.S. agreed to acquire 33% stake in Northern Marmara Highway from Astaldi S.p.A. (BIT:AST) for approximately $320 million on December 2, 2019. This purchase price shall be paid net of the offsetting items with Ictas, the repayment of the other Turkish creditors (by virtue of the non-recognition of the composition arrangement in Turkey) for an amount of approximately €140 million ($152 million) and the relevant transaction cost. The transaction is approved by Insolvency Division of the Court of Rome. IC-Içtas Insaat Sanayi ve Ticaret A.S. completed the acquisition of 33% stake Northern Marmara Highway from Astaldi S.p.A. (BIT:AST) on March 19, 2020. Fabio Guastadisegni and Umberto Penco Salvi of Clifford Chance acted as legal advisor to IC-Içtas Insaat Sanayi ve Ticaret in the transaction.