Blackstone and the billionaire family behind Italian fashion brand Benetton bid to takeover Italian infrastructure group Atlantia for  €24B, according to a report by FT on Thursday.

  • The offer to take over the company at €23 per share would mark the largest ever take-private deal for a European listed company making an end to a turbulent period for Atlantia’s investors.
  • The deal comes less than a year after Blackstone agreed to acquire a stake in Atlantia’s toll road division, Autostrade per L’Italia (Aspi), for €9.3B as part of a consortium led by state-owned Cassa Depositi e Prestiti.
  • Blackstone and Edizione affirmed their intention to bid for the motorway operator after reports last week on the possibility of a deal.

The offer is the recent development in a long-standing saga over the ownership of the company. BX down -1.00%, ATL up +4.29%