Bennetton´s ready for bidding war

Bennettons ready for bidding war
ON THE ROAD: Cars approach toll booths operated by Abertis Infraestructuras SA Photo credit Twitter

ITALIAN company Atlantia – owned in part by the Benetton family – is preparing to raise its bid for Spanish toll-road operator Abertis Infraestructuras SA and “has the cash” for a prolonged battle with Real Madrid Chairman Florentino Perez, according to the company’s chief executive officer.

“We have enough financial resources to sustain an eventual bidding war,” Atlantia CEO Giovanni Castellucci said in an interview. Though the Rome-based infrastructure company seeks to compete successfully to win control of Abertis, higher offers “won’t reach any irrational point,” the executive said.

“The offer we presented in May was not our reservation price and we have room for improvement, ” Castellucci said. “We’re going forward to make the best possible offer.”

Four members of the Italian Benetton Family founded the Benetton Group fashion company in 1965. The three brothers and one sister were all born in Treviso, Veneto, Italy and their father owned a bicycle shop.

The Bennetton family control a number of other businesses including 30 per cent of Atlantia– an operator of nearly two-thirds of Italy’s motorways and 60 per cent of Autogrill– a chain of roadside restaurants. They also have investments in the hotel industry including the Hotel Monaco & Grand Canal in Venice, Italy.

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