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MILAN (Reuters) -The Benettons’ holding company Edizione and U.S. investment fund Blackstone (NYSE:BX) are aiming to launch a takeover offer for Italian infrastructure group Atlantia this week without involving other partners for now, two sources close to the matter said on Monday.
One of the sources said the bid could be announced before Saturday.
The takeover is aimed at taking Atlantia private to shield it from the approach of Global Infrastructure Partners (GIP) and Brookfield, which in March approached the Benettons with a proposal to buy the infrastructure group together with Spain’s ACS, the sources said.
“Edizione and Blackstone are not currently discussing any plan to involve GIP and Brookfield in their bid,” one of the sources said.
Edizione, which controls Atlantia with a 33% stake, and Blackstone are expected to set up a new company that will launch the offer for the infrastructure group, the sources said.
The Benetton’s holding company will have the majority of the “Newco”, with Blackstone holding the rest, they said, adding that banking foundation CRT and Singapore sovereign fund GIC could join the project in a second phase.
CRT declined to comment, GIC, Global Infrastructure Partners and Brookfield were not immediately available for comment.
(editing by Cristina Carlevaro and Jane Merriman)
