Atlantia acquires stake in Venice airport
Atlantia has reached an agreement with San Lazzaro Investments Spain S.L. for the acquisition of a 21.3% stake in the share capital of SAVE S.p.A., concessionaire of the Venice and Treviso airport system, representing the third Italian airport group.
The agreement envisages the acquisition of the stake for a price of €14.75 (US$16,55) per SAVE share and total consideration of about €174 million (US$195 million).
The agreement include also a mechanism of partial upward adjustment of the price in case in a 3-year time a public purchase or exchange offer on SAVE share is launch at a price higher than the price recognized today.
The interest acquired by Atlantia is not subject to any shareholders' agreement and it does not benefit any right in addition of those provided by the SAVE's by-laws.
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