Francesca Landini, Stephen Jewkes

MILAN (Reuters). – American investment fund Blackstone and the holding company Edizione of the Benettons are aiming at launching a takeover bid for Atlantia, an Italian infrastructure firm.

Sources indicated that the bid might be made before Saturday.

According to sources, this takeover is intended to make Atlantia privately to protect it against the approaches of Global Infrastructure Partners and Brookfield. Brookfield approached Atlantia in March with a proposal for the purchase of the infrastructure group along with Spain’s ACS.

One source said that Edizione and Blackstone were not discussing any plans to include Brookfield and GIP in their bid.

According to sources, Edizione (which controls Atlantia, with 33% of the shares) and Blackstone will likely set up a new company, which will launch the offer for infrastructure groups.

Blackstone will hold the remainder of “Newco”, while the Benetton holding company will own the bulk.

CRT did not comment. Brookfield and Global Infrastructure Partners were also unavailable.

Editing by Jane Merriman and Cristina Carlevaro