ITALY - All eyes on Alitalia

Turnaround firms Management&Capitali (backed by Mediobanca) and Orlando Italy Special Situations are said to be interested, as well as Goldman Sachs and Texas Pacific Group. Almost every private equity firm aiming to the higher end of the spectrum is rumored to have at least considered bidding, such as Investitori Associati (which later denied interest), Clessidra and Vestar. Sector companies Air France-KLM and Air One, the second biggest domestic carrier, are also said to have submitted bids for the airline.

The total price for Alitalia is approximately EUR 1.5bn. The struggling airline has reportedly posted a loss of over EUR 220m in 2006. Rumor has it that the airline has been trading in the red since 2002, meaning the successful bidder would have to invest in the restructuring of the company and in its fleet.

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• Topics
• Buyouts
• Southern Europe
• Industrials