Italy's Atlantia becomes Mundys, Blackstone ready to support M&A
MILAN (Reuters) - Italy's Atlantia will change its name to Mundys, as it aims to become the biggest infrastructure group globally, co-owner Edizione's chairman Alessandro Benetton said on Wednesday.
Last year, the Benetton family's holding company Edizione and U.S. investment fund Blackstone launched a buyout offer for Atlantia and took it private.
"We are opening a new chapter," Benetton said at an event in Milan to present the group's new brand and outlook, adding that the focus would be on investments in sustainable and innovative infrastructure.
Mundys operates motorways and airports including Rome's Fiumicino, and also has a growing business focused on mobility services such as traffic management.
Blackstone, together with Edizione, aim to strengthen Atlantia's leadership in the world of sustainable integrated mobility, said Andrea Valeri, chairman of Blackstone Italy.
He added that Blackstone had committed to bringing additional capital to Atlantia, together with Edizione, if it were needed for future acquisitions.
Alessandro Benetton, who is also deputy chairman at the business, said the stake it has in the Channel tunnel operator Getlink was strategic.
After the Edizione-Blackstone takeover bid, Atlantia's Chief Executive Carlo Bertazzo left the company at the end of December and he has not been replaced yet.
Benetton, speaking on the sidelines of the event, said the name of the new CEO would be revealed soon.
(Reporting by Elisa Anzolin; Editing by Emelia Sithole-Matarise and Keith Weir)