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

Reuters
Updated
FILE PHOTO: A logo of the Atlantia Group is seen outside its headquarters in Rome, Italy

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 are making on the airport and motorway operator.

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.

(Reporting by Giulio Piovaccari, editing by Stephen Jewkes)