January 24, 2018 / 4:06 PM / 6 months ago

Benetton's Edizione to raise Generali stake to around 2 pct - source

MILAN, Jan 24 (Reuters) - Italy’s Edizione Holding, the investment vehicle of the Benetton family, plans to double its stake in the country’s biggest insurer Generali to around 2 percent, a banking source said on Wednesday.

Edizione Holding declined to comment on the issue.

The holding firm, which currently owns a stake of 0.94 percent in the insurer, is cash-rich after having sold a majority stake in duty free group World Duty Free.

At current market prices, one percent of Generali is worth around 250 million euros ($310 million).

Edizione controls Italian road and airport operator Atlantia and travel caterer Autogrill, but also has investments in the clothing, insurance and real estate sectors.

$1 = 0.8076 euros Reporting by Paola Arosio; Writing by Francesca Landini

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