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| - Italian infrastructure group Atlantia took the next step Thursday in completing the sale of its motorways arm, which has been blamed for a deadly bridge collapse three years ago. The deal, worth 9.3 billion euros ($11.3 billion dollars), was approved by Atlantia's board 10 days after its shareholders voted in favour of it. The board "authorised ... the finalisation and signing of the share purchase agreement in compliance with the deadline of 11 June," a company statement said. Atlantia had been under pressure to give up control of its subsidiary Autostrade per l'Italia (ASPI) since the Morandi bridge disaster in Genoa in 2018, which left 43 people dead. ASPI was in charge of maintaining the structure, and the company and several of its employees at the time of the disaster are facing criminal investigations. Cassa Depositi e Prestiti (CDP), which is controlled by the Italian treasury, is buying an 88-percent stake in the company along with the Blackstone and Macquarie investment funds. The deal is subject to a series of conditions which must be met by March 2022 or not later than June 2022, and cannot be closed before November 30, Atlantia said Thursday. The Benetton family, best known for their eponymous fashion label, is the leading shareholder in Atlantia, with a 30 percent stake. Even after the sale of ASPI, the family will remain in control, via Atlantia, of Spanish motorway group Abertis and other holdings, including airports in Rome, Bologna and Nice. aa/lth
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