November 7, 2019 / 7:12 PM / 10 days ago

Salini Impregilo welcomes billionaire Leonardo Del Vecchio as new shareholder - CEO

MILAN, Nov 7 (Reuters) - Billionaire Leonardo Del Vecchio bought a stake in Salini Impregilo, as he took part in a share sale the Italian builder launched on Thursday, Salini chief executive said.

Salini Impregilo’s Chief Executive Pietro Salini said in a statement he was happy with Del Vecchio’s participation in the group’s capital increase.

Italian infrastructure group Salini Impregilo launched a strongly discounted sale of 600 million euros ($665 million) of new shares, as part of a state-backed plan to create a national construction champion.

Del Vecchio recently built a stake in influential Italian merchant bank Mediobanca challenginhg the top management’s strategy. (Reporting by Stephen Jewkes, writing by Giulio Piovaccari)

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