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Benettons, Blackstone offer 23 euros a share in Atlantia bid By Reuters

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© Reuters. FILE PHOTO: The logo of infrastructure group Atlantia in Rome, Italy October 5, 2020. REUTERS/Guglielmo Mangiapane/File Photo

MILAN (Reuters) – The holding company of Italy’s Benetton family and U.S. investment fund Blackstone (NYSE:) will spend up to 12.7 billion euros ($14 billion) to buy out other investors in Atlantia and take the airport and motorway operator private.

In a statement, the two partners said they would offer 23 euros a share, which represents a permium of 24.4% to the share price on April 5, before rumours about the offer fuelled gains. ($1=0.9163 euros)

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