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Benettons change name of Atlantia bid vehicle after Genoa backlash -Breaking

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© Reuters. FILE PHOTO – The Atlantia logo in Rome, Italy on October 5, 2020. REUTERS/Guglielmo Mangiapane

MILAN (Reuters – After protests by victims of 2018 Genoa bridge collapse, the Italian Benetton family has changed the name of its investment vehicle bid to acquire control of Atlantia.

Blackstone (NYSE.) and the Benettons have joined forces to acquire full control of Atlantia. In official documents, they call it Schemaquarantatre (Scheme43). The decision was criticized by relatives of 43 people who died when the bridge fell four years earlier.

Autostrade per l’Italia operated the motorway viaduct until its sale to Atlantia, a company supported by Benetton.

According to Edizione chairman Alessandro Benetton, the bidding entity will now be called “Schema Alpha” (Scheme Alpha). A spokesperson for Edizione said Monday that this was in confirmation of remarks made by Edizione Chairman Alessandro Benetton.

An assortment of 5-Star Movement deputies had criticised Benettons’ choice of name.

“Entire families lost their loved ones on August 14, 2018, both men and women. These people should be treated with the utmost respect, particularly by those who were involved in the terrible tragedy,” stated the 5 Star deputies of parliament’s transportation committee.

From the numbers given to the previous bid vehicles by relatives, the original name was used.

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