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Benettons and Blackstone secure 62.2% of Atlantia's shares as bid nears end

Published 11/10/2022, 12:42 PM
Updated 11/10/2022, 12:50 PM
© Reuters. FILE PHOTO: A man walks past the logo of an infrastructure group Atlantia outside their headquarters, in Rome, Italy October 5, 2020. REUTERS/Guglielmo Mangiapane/File Photo
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MILAN (Reuters) - The Benetton family and U.S. investment fund Blackstone (NYSE:BX) have secured Atlantia shares accounting for 62.2% of its capital as of Thursday, a day before the deadline for their takeover bid, Reuters calculations based on bourse data showed.

Borsa Italiana said the take-up in the buyout offer for the Italian infrastructure group, which is run through a vehicle called Schema Alfa, reached 43.504% of the shares targeted by the offer.

Edizione already controls 33.1% of Atlantia.

Schema Alfa's 58 billion euro ($58 billion) bid to take private the infrastructure group ends on Friday.

The vehicle needs to achieve a threshold of 90% for the offer to be valid. ($1 = 1.0049 euros)

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