March 2, 2019 / 3:01 PM / 3 months ago

Benetton's Edizione raises Generali stake to 4 percent - Il Sole

FILE PHOTO: The Generali logo is seen on the company's Tower, designed by Iraqi-British architect Zaha Hadidat, at the Milan's CityLife district, Italy November 5, 2018. REUTERS/Stefano Rellandini

MILAN (Reuters) - Edizione, the holding company of the Benetton family, has raised its stake in insurer Generali to around 4 percent and has an eye to lift this eventually to 5 percent, Il Sole 24 Ore reported on Saturday.

Edizione holding, which is the controlling shareholder in travel caterer Autogrill and infrastructure group Atlantia, last year hiked its stake in Generali to just over 3 percent, saying it was a long-term investment.

Il Sole 24 Ore said Edizione’s board had given the green light to increase the holding to 5 percent, although this did not need to happen immediately. The paper added that the Benettons would not be asking for a place on Generali’s board.

A spokesman for Benetton declined comment.

Writing by Crispian Balmer; Editing by David Holmes

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