Benettons, Blackstone working on premium of around 30% to buy Atlantia – sources

div classBodysc17zpet90 cdBBJodivpMILAN Reuters – The Benetton family and U.S. investment fund Blackstone are working on a premium of around 30 over Atlantias average stock price in the last six months, as they ready a bid that could land as early as Wednesday, three sources said.p

pTheyre working on an offer between 22 and 23 euros per share, one of the sources said, but cautioned no final decision had been taken. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pWhile a significant premium on the six month average share price, that would be a more modest increase over the current price of about 21.7 euros, and would value the whole of Atlantia – in which the Benetton family already owns a 33 stake – at about 18.119.0 billion euros 19.720.7 billion. p

pShares in the Italian infrastructure group have gained nearly 20 since April 6 when speculation first emerged about an approach involving Global Infrastructure Partners GIP, Brookfield and Florentino Perez, head of Spains ACS. The stock hit a twoyear high of 22.5 euros on Monday as investors waited for a move that could take the group private.p

p“The offer could land very soon, even early Wednesday morning,” one of the sources said.p

pBlackstone and Benetton holding company Edizione declined to comment. 1 0.9184 eurosp

p

pp Reporting by Francesca Landini and Stephen Jewkes Editing by Mark Potterp

divdivdiv classBodysc17zpet90 cdBBJodivdivdiv