MILAN – Fondazione CRT banking foundation said on Wednesday it would tender its 4.54% stake in Atlantia to the takeover bid Italy’s Benetton family and Blackstone are making on the airport and motorway operator.
Fondazione CRT said proceedings from the sale of shares representing a 3% stake would be reinvested in the vehicle set up by the Benettons and the U.S. fund to launch the buyout offer on Atlantia, it said in a statement.
The remaining 1.54% will be cashed in, CRT added.
(Reporting by Giulio Piovaccari, editing by Stephen Jewkes)