Salini Impregilo S.p.A. (BIT:SAL) has decided to go ahead with a takeover of Astaldi S.p.A. (BIT:AST). Salini said it would invest $253 million in Astaldi, currently in bankruptcy proceedings, in return for a controlling stake, part of a bigger €1.8 billion financing plan designed to create a new national champion. The rounds of funding include a €600 million share issue by Salini.

Salini said in a statement on July 15, 2019 its offer for Astaldi was conditional on receiving funding commitments for the plan by August 01, 2019 from state lender Cassa Depositi e Prestiti (CDP) and from a group of commercial banks.