The Benetton group is set to
gradually quit Autostrade per l'Italia (ASPI) as it becomes a
public company with the entry of government bank Cassa Depositi
e Prestiti (CDP) in an ownership change spurred by the 2018
Genoa bridge disaster that killed 43 people.
The Benettons are being eased out as being at least partly to
blame for the collapse of the Morandi Bridge, the government
decided after a marathon six-hour cabinet meeting overnight
Tuesday-Wednesday.
Benetton subsidiary Atlantia will gradually cut its controlling
stake as CDP takes a 51% controlling stake.
The cabinet took so long to decided as there was a row between
the anti-establishment 5-Star Movement (M5S), who wanted the
Benettons summarily ejected, and the centrist Italia Viva (IV)
party which said the Benettons were not guilty and should be
allowed to hold on to ASPI.
The centre-left Democratic Party (PD) had an intermediate
position.
ASPI's motorway concessions will be revised with changes to
compensation and toll charges, the cabinet also decided.
The process of changing the ownership and management structure
will begin on July 27.
ASPI will eventually be floated on the Milan bourse after CDP
takes over control.
Atlantia stocks surged 22% in Milan Wednesday.
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