(Corrects size of stake in headline)
MILAN, July 11 (Reuters) - Italy’s Benetton family said on Thursday it had sold an indirect minority interest in Spanish tower group Cellnex to sovereign funds in Abu Dhabi and Singapore.
The Benettons sold 5% of a vehicle called ConnecT which holds 29.9% of Cellnex, with 2.5% going to each fund.
The sale follows the exercise of a call option by Abu Dhabi Investment Authority ADIA, and Singapore’s sovereign wealth fund, GIC.
Following the deal, Benetton’s holding company Edizione remains ConnecT’s largest shareholder with a 55% stake, while ADIA and GIC each hold 22.5% (Reporting by Andrea Mandala, editing by Gavin Jones)