By Giuseppe Fonte and Francesca Landini

ROME (Reuters) – The Benetton household and U.S. fund Blackstone (NYSE:) are on monitor to safe the inexperienced mild from the Italian authorities for his or her takeover provide for infrastructure group Atlantia, two folks near the matter advised Reuters on Friday.

Rome has particular “golden powers” it could actually use to dam or set strict circumstances on takeovers in strategic sectors, reminiscent of airports, defence, power and banking.

Within the case of Atlantia, the golden powers apply to the group’s ADR unit, which manages Rome’s Fiumicino airport, and digital street toll cost unit Telepass, which handles knowledge on site visitors and banking accounts of its shoppers.

The bid, valuing Atlantia at 58 billion euros ($62 billion) together with debt, was filed with the federal government final month, the sources mentioned.

Though the cupboard nonetheless has to decide, Rome is probably going to present an unconditional inexperienced mild, they added.

Edizione, which is the holding firm of the Benetton household and already owns a 3rd of Atlantia, declined to touch upon the difficulty. Blackstone and Atlantia weren’t instantly accessible for remark.

If profitable, the takeover will depart the Benetton household within the driving seat at Atlantia, with Blackstone as a minority investor.

The takeover will take Atlantia personal, ring-fencing the 8.2 billion euros the group pocketed from a consortium led by state lender Cassa Depositi e Prestiti (CDP) for the sale of its Italian motorway unit, Autostrade per l’Italia (ASPI).

Prime Minister Mario Draghi gave his inexperienced mild to the ASPI transaction to finish a dispute triggered by the 2018 collapse of a bridge in Genoa run by the motorway firm, through which 43 folks had been killed.

Atlantia operates its key companies beneath public licences, which permit Italian authorities to supervise its methods with out utilizing the golden powers, one of many sources mentioned.

Nevertheless, the ultimate choice will take time because it follows a prolonged process involving a number of ministries.

The bidders goal to kick begin their formal provide in August, Atlantia chairman Giampiero Massolo mentioned on Thursday.

($1 = 0.9314 euros)