Road dilemma

16 September 2019 By Lisa Jucca Follow @LJucca

The $20 bln infrastructure group accounting for half the wealth of one of Italy’s top dynasties is sinking deeper into a probe linked to a deadly bridge collapse. The damage risks infecting their shirts-to-motorways empire. Replacing Atlantia’s boss would be too little too late.

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On Sept. 13, three employees of companies owned by $20 billion infrastructure group Atlantia were placed under house arrest after tax police found evidence that the safety reports for some viaducts operated by its Autostrade per l’Italia unit had been falsified, law enforcement authorities said.

Atlantia has been under scrutiny since the collapse last year of a Genoa viaduct it operates, which killed 43 people.

At the end of 2018, Atlantia represented nearly half of the value of the 10 billion euro portfolio of investments by Edizione, the holding company of the Benettons, who originally made their wealth through the eponymous clothing chain.

Shares in Atlantia, which is 30%-owned by the Benetton family, fell some 8% on Sept. 13 and were down 6% at 0915 GMT on Sept. 16.

Context News

Atlantia has been under scrutiny since the collapse last year of a Genoa viaduct it operates, which killed 43 people.

Shares in Atlantia, which is 30%-owned by the Benetton family, fell some 8% on Sept. 13 and were down 6% at 0915 GMT on Sept. 16.

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