Word: bastogi
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...battery maker. At the same time, with the strong financial backing of the state, which he refers to as "my principal shareholder," Cefis is following an aggressive expansion program; he has gained control of Carlo Erba, Italy's second-largest drug company; Rhodiatoce, a synthetic-fiber maker; and Bastogi, a major financial holding company. Cefis' main aim: to knit Montedison into a chemical combine strong enough to compete with giant foreign firms...
...Portfolio. Moneymen expect that it will take the Vatican some time to shed all of its unwanted stock holdings. The church has retained a small number of Immobiliare shares, but recently sold its controlling interest in Italiana Condotte Acqua, a major construction firm, to a leading Italian holding company, Bastogi...
...another through a cozy network of holding companies. Chemical-making Montecatini Edison, Italy's largest private industrial corporation, was long the leading shareholder in both Italpi and Sade-Finanziaria, holding companies that, as it happens, control Montecatini Edison. Italmobiliare is 100% owned by Italcementi, an important shareholder in Bastogi, which in turn owns more than 10% of Italcementi...
...private sector, a group of businessmen led by Cesare Merzagora, former president of the Italian Senate and now head of Assicurazioni Generali, the country's largest insurance firm, challenged Bastogi, a big holding company in which Assicurazioni owns a major interest. Decrying Italian financial companies as "a group of hens nesting on rocks," Merzagora's group demanded that Bastogi try to stimulate private investment rather than keep its capital in the serenity of real estate holdings. Another group, headed by Insurance Executive Ettore Lolli, joined with Tiremaker Leopoldo Pirelli to oust the conservative management of La Centrale...
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