The Benetton family and the Blackstone fund manager have received government approval to go ahead with their takeover bid (OPA) on the Italian concessions and infrastructure firm Atlantia, as reported in a joint statement on Thursday.
Schema Alfa, the investment vehicle prepared by Blackstone and Edizione, owned by the Benettons, has reported that the Presidency of the Italian Council of Ministers has reported that it does not plan to use the special powers guaranteed by law to intervene in the case of mergers and acquisitions of strategic sectors.
The Benettons and Blackstone have proposed to acquire Atlantia at a price of 23 euros per share, which would value the company at almost 19,000 million euros.
The Italian family and the asset manager will have to disburse 12,706 million euros to take over the stake that it does not control and its objective is to exclude the stock exchange company.
In May, Atlantia’s board of directors explained that it had hired BNP Paribas and Morgan Stanley International as financial advisers in order to assess the offer.