Astaris Pauses Stake Sale in Multibillion-Dollar Turkey Road

Italy’s Astaris SpA has paused the sale process of its minority stake in a multibillion-dollar toll road and suspension bridge project in Turkey as bids were lower than it expected, according to people with knowledge of the matter.

All three bids the company received for its 18.1% stake were significantly lower than the €405 million ($440 million) Astaris had pegged as the value of its holding, said the people, who asked not to be named because talks are private.