December 17, 2019 / 10:24 AM / a month ago

Benetton holding ready to sell 49% stake in Rome airport group: sources

MILAN (Reuters) - The Benetton family’s holding company Edizione is ready to sell a stake of up to 49% in Rome airport operator Aeroporti di Roma (ADR) as part of a strategic overhaul of infrastructure group Atlantia (ATL.MI), sources close to the matter said on Tuesday.

The sources stressed however that no sale was imminent. ADR could be worth some 5 billion euros ($5.5 billion), according to recent report by JP Morgan.

The planned sale comes amid a shake-up at Atlantia, in which the Benetton family is the largest shareholder, following last year’s deadly collapse of a bridge in Genoa operated by the group’s tollway unit Autostrade per l’Italia.

The sources said the group is also aiming to resume the sale of a minority stake in digital payments services unit Telepass, which was put on hold following the departure in September of long-serving Atlantia Chief Executive Giovanni Castellucci.

News of the planned sales was first reported by Il Sole 24 ore on Tuesday. Spokespeople for the companies involved declined to comment.

Reporting by Silvia Aloisi and Stefano Bernabei; editing by James Mackenzie

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