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ASTM boasts a long history that has seen it as a protagonist since the beginning of the last century. Today the ASTM Group ranks among the largest Italian industrial groups.

The following illustrates the stages of the Company’s growth path:


ASTM, originally named Autostrada Torino-Milano, was founded on 28 November 1928 with the aim of building a motorway linking the cities of Turin and Milan.


On 25 October, the Turin-Milan motorway is inaugurated.


The company is listed on the Turin Stock Exchange and, the following year, on the Milan Stock Exchange (now Borsa Italiana).


The Gavio Group enters the toll road sector, acquiring a minority stake in Autostrada Torino-Piacenza.


The Gavio Group acquires an initial stake in Autostrada Torino-Milano.


A company reorganization is launched, with the spin-off of ASTM and SALT’s concessions in SIAS and the listing of SIAS on the Italian Stock Exchange.


The Group invests in Impregilo, acquiring a minority stake (10%) through IGLI, and signs a capital increase to strengthen the company.


The reorganisation is complete: all motorway concessions are grouped together in SIAS, while ASTM becomes a holding company.


IGLI becomes Impregilo's largest shareholder, reaching a 30% stake.


Following the voluntary tender offer promoted by Salini, the Group exited Impregilo, encashing €448 million.


The Group, through IGLI, acquires joint control of EcoRodovias in Brazil, one of the country's leading infrastructure players, investing € 476 million for 41% of the shares.


The Group acquires the control of Itinera, a company operating in the construction of transport infrastructure and civil construction projects.


In the USA, the Group acquires the majority of shares in Halmar International LLC, one of the most important construction companies operating in the New York area, with an investment of $60 million for 50% of the company.


On 27 September, the agreement with Ardian is signed, where the private equity fund becomes a minority shareholder.


ASTM launches a Voluntary Partial Public Tender offer on the shares of SIAS.


The company SIAS is merged into ASTM.


On 20 February, the Gavio Group and Ardian, through NAF2 (Nuova Argo Finanziaria 2), launched a Voluntary Tender Offer (``VTO``) at €28 per share. From 4 June 2021 ASTM will be a private company, no longer listed on the Italian Stock Exchange. The Gavio Group holds 50.5% of ASTM and Ardian 49.5%.

Last update: 13/01/2022