Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Atlantia investor CRT to tender all its 4.54% stake in takeover bid

Published 04/20/2022, 01:28 PM
Updated 04/20/2022, 01:46 PM
© Reuters. FILE PHOTO: A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy August 31, 2018.  REUTERS/Alessandro Bianchi/File Photo
BX
-

MILAN (Reuters) - 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 (NYSE:BX) are making on the airport and motorway operator.

© Reuters. FILE PHOTO: A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy August 31, 2018.  REUTERS/Alessandro Bianchi/File Photo

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.

Latest comments

Risk Disclosure: 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.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.