Morandi Bridge fallout could hit Benetton
January 1, 1970 -- The Benetton family controls Edizione – one of Italy’s most significant business groups – with interests spanning infrastructure, catering, telecoms and finance as well as their well-known clothing brand.
Italian Prime Minister Giuseppe Conte has said the government would start a procedure to revoke licences held by toll road operator Autostrade per l’Italia following Tuesday’s collapse of the Morandi motorway bridge which left at least left 39 people dead.
Edizione, the holding company of the Benetton family, owns a 30.25 per cent stake in Atlantia which itself holds an 88 per cent share in Autostrade per l’Italia.
The Benetton family has said it will fight the Italian government’s attempted seizure of its road-toll assets. Autostrade operates just under 3,000km, or almost half, of the country’s motorway network. The company generated more than €3.7 billion in revenue in 2017, equivalent to 65 per cent of its parent’s annual revenues of €5.7bn.