Benettons change name of Atlantia bid vehicle after Genoa backlash
Reuters
Published May 09, 2022 01:59PM ET
MILAN (Reuters) - Italy's Benetton family will change the name of the investment vehicle bidding to take control of Italian infrastructure group Atlantia after protests on behalf of the victims of the 2018 Genoa bridge disaster.
The Benettons have teamed up with Blackstone (NYSE:BX) to buy full control of Atlantia and in official documentation called the entity Schemaquarantatre (Scheme43). That drew sharp criticism from relatives of the 43 people killed when the bridge collapsed four years ago.
The motorway viaduct was operated by Autostrade per l'Italia, a business controlled by the Benetton-backed Atlantia until it completed the sale of the motorway business last week.
The bidding entity will be renamed "Schema Alfa" (Scheme Alpha), a spokesman for the Benetton family holding Edizione told Reuters on Monday, confirming remarks made by Edizione Chairman Alessandro Benetton.
A group of deputies from the 5-Star Movement had criticised the Benettons for the choice of name.
"Entire families died on Aug. 14, 2018, women, men and children. They should be shown the maximum respect, especially on the part of those involved in this terrible tragedy," said the 5-Star deputies from parliament's transport committee.
The original name followed on directly from the numbers assigned to previous bid vehicles by the family.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.