MILAN (Reuters) – Italian holding company Atlantia said on Tuesday it was working to agree financial terms and part ways with Chief Executive Carlo Bertazzo, adding it would start looking for a successor once the accord was finalised.
Atlantia hired Bertazzo three years ago to steer the group through a difficult phase as Italy’s government threatened to revoke a motorway concession following the deadly collapse of a bridge its toll road unit operated.
The decision comes after Atlantia, controlled by Italy’s Benetton family, in May reached an 8.2 billion euro ($8.40 billion) deal to dispose of its domestic motorway business.
It also comes as the Benetton family prepares to launch a buyout on Atlantia together with U.S. fund Blackstone.
($1 = 0.9773 euros)
(Reporting by Valentina Za, editing by Giulia Segreti)
