Atlantia SpA

Italy's Benetton family has ousted Gianni Mion as head of its holding company Edizione, replacing him with well-connected business professor Enrico Laghi, the company said on Sunday, as it tries to solve a long-running dispute over its motorway unit.

Italy's Benetton family has ousted Gianni Mion as head of its holding company Edizione, replacing him with well-connected business professor Enrico Laghi, the company said on Sunday, as it tries to solve a long-running dispute over its motorway unit.

Italy's Benetton family has asked well-connected business economics professor Enrico Laghi to help solve a dispute over the future of Atlantia's motorway unit Autostrade per l'Italia, two sources familiar with the matter said.

The motorway unit of Italian infrastructure group Atlantia has prepared a new proposal in an attempt to end a stalemate with the government over toll rules, two sources close to the matter said on Wednesday.

Italian infrastructure group Atlantia <ATL.MI> worsened its outlook on Friday, saying the coronavirus would reduce its 2020 revenue by 3.5 billion euros ($4.1 billion) compared with last year.

The former head of Italian infrastructure group Atlantia, Giovanni Castellucci, has been placed under house arrest by judges investigating the deadly 2018 collapse of a bridge in Genoa.

Lawyers for former Atlantia <ATL.MI> Chief Executive Giovanni Castellucci expressed "disbelief and concern" for the manager's house arrest on Wednesday, according to a statement.

Atlantia's <ATL.MI> unit Autostrade per l'Italia said that the sound barriers on its motorway network targeted by a judicial probe had been checked and were now safe.

Atlantia's unit Autostrade per l'Italia said that the sound barriers on its motorway network targeted by a judicial probe had been checked and were now safe.

Italian prosecutors investigating Atlantia's motorway unit Autostrade per l'Italia after the collapse of a bridge in Genoa in 2018 allege the unit systematically cut maintenance spending to support dividends, a court document seen by Reuters shows.

Italy's Atlantia <ATL.MI> said it had delayed a shareholder vote on the spin-off of its domestic motorway business to extend talks to sell it to a consortium led by state lender Cassa Depositi e Prestiti (CDP).

A consortium led by Italian state lender CDP pledged on Wednesday to come up with a final offer to buy Atlantia's 88% stake in a motorway business in 10 weeks, while repeating an initial valuation that Atlantia has signalled is insufficient.

Italy's state lender CDP will set out the stages for a final offer to buy Atlantia's motorway business when its board meets later on Tuesday, sources close to the matter said.

Any vote by shareholders in October in favour of the spin-off of the Italian motorway assets of Atlantia <ATL.MI> could be set aside if an attractive offer from state lender CDP or other suitors came along, proxy advisers said.

Italy's Atlantia <ATL.MI> said it would give a consortium led by state lender Cassa Depositi e Prestiti (CDP) until Oct. 27 to improve a bid for the group's 88% stake in motorway business Autostrade per l'Italia.

Italy's motorway lobby group AISCAT said on Tuesday the reported plans put forward to resolve the dispute over the tollroad concession of Atlantia's <ATL.MI> unit Autostrade per l'Italia were "messy" and not in the public interest.

Shares in Italian infrastructure group Atlantia fell more than 4% on Tuesday on concerns that an offer by state lender CDP and others for its motorway unit may not be enough to settle a long-running dispute with Rome.

Italy's CDP and investment funds Macquarie and Blackstone have presented a proposal to buy Atlantia's <ATL.MI> 88% stake in motorway unit Autostrade per l'Italia, the Italian state lender said late on Monday.

Italian state lender CDP is trying to put together a proposal on Monday to buy Atlantia's 88% stake in motorway business Autostrade per l'Italia along with two big international funds, three sources close to the matter said.