Italy is expected to lift barrier to Autostrade sale

Article Abstract:

The government of Italy is expected to remove the last remaining barrier to Autostrade SpA's public sale. The long-awaited sale is scheduled to take place in the summer of 1999. The state owns 86.6% of Autostrade through Istituto per la Ricostruzione Industriale. If the whole of Autostrade is sold at one time, the state could raise approximately 6.8 billion euros ($7.89 billion). ANAS, the state highway agency is expected approval of the sale will fulfill the European Commission's demand that Autostrade be denied the right to grant construction contracts.

Comment:

Italy expected to remove last remaining barrier to Autostrade SpA's public sale

Abstract

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Benetton's Group may win Autostrade

Article Abstract:

The Benetton Group will probably take over Autostrade SpA, the largest toll highway company in Europe, after the Italian government sells a Euro2.6 share in a private placement next week. The consortium led by Benetton is the only one to have bid for the entire 30% that the government is trying to place, bidding just above the current market price. The only other group competing, led by Macquarie Bank Ltd. of Australia, could not round up enough investors and offered a bid for a share of less than 10%.

Commercial Banks, Commercial Banking, Australia, Foreign operations, Banking industry, Toll roads, Macquarie Bank Ltd.

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Italy examines Benetton on Autostrade purchase

Article Abstract:

The Benetton family's acquisition of a share in Autostrade SpA is being investigated by Italy's antitrust authority. The Benetton family already holds one of the largest highway restaurant networks in Europe, Autogrill SpA.

Public affairs, APPAREL AND OTHER TEXTILE PRODUCTS, BNG

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