Corporacion America launches bid for Italian airports

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Corporacion America launches bid for Italian airports

Argentina's Corporación America has announced that it has launched takeover bids for the companies that operate Italy's Pisa and Florence airports.

The offer was made by Cedicor, which controls Corporacion America and holds a 33.4 percent stake in the company that manages Florence's airport and a 27.3 percent stake in the Pisa airport operator.

Global law firm White & Case LLP  is advising on a mandatory offer for the entire share capital of Aeroporti di Firenze S.p.A. , which manages the Florence airport, for a total maximum amount of around €80 million (US$111 million), and on a voluntary offer for the entire share capital of Società  Aeroporto Toscano Galileo Galilei S.p.A., which manages the Pisa airport, for a total maximum amount of around €94 million (US$130 million).

Eduardo Eurnekian, CEO of Corporacion America, which manages airports in Argentina (35), Brazil (2), Uruguay (2), Ecuador (20), Peru (6), Armenia (2) and Italy (3), said that the company plans to implement an integrated system between the Pisa and Florence airports.

Pisa International Airport  is the main airport in Tuscany. The airport was used by 4,526,723 passengers in 2011. The airport had its own railway station with a service to and from Pisa Central railway station but this was closed on 15th December 2013 to allow construction work to begin on a new fully automatic connection to be known as the Pisa Mover to take passengers to Pisa Central.

Florence Airport is the smaller of the two main airports in the Tuscany region. Since April 9, 1998, Aeroporti di Firenze S.p.A. has had a global concession for managing the airport infrastructures, and it has assumed responsibility for the maintenance and development of Florence Airport.

List of country news

Country news

  • April 16, 2014

    Partners Group acquires thirteen solar power plants in Italy

    Partners Group has bought 13 operational solar-power plants in Italy and plans to acquire more. Read more
  • April 30, 2014

    Financial close for Florence tram refinancing

    MPS Capital Services, the Corporate and Investment Bank of Gruppo Montepaschi, has acted as lead arranger, custodian bank and agent bank for the €166 million refinancing of a public private partnership for construction and management of lines 2 and 3 of Florence tramway system. Read more
  • May 15, 2014

    Abertis acquires Italian mobile towers

    Abertis has reached an agreement with Atlantia to buy its subsidiary TowerCo, which operates the mobile telecommunications towers on Italy's toll road network. The transaction, that has been completed for a total of €94.6 million, is expected to be closes in the next weeks. Read more
  • June 13, 2014

    Ambienta holds third fund close at 250m

    Environmental-focused private equity firm Ambienta has reportedly hold another interim close for its latest fund, Ambienta II. Read more
  • August 04, 2014

    Financing signed for waste PPP project in Italy

    Banco di Napoli (Intesa Sanpaolo Group) has provided a €10 million loan to Desag Ecology S.c.a.r.l., a subsidiary of De Vizia Transfer SpA, for the development of a waste-to-energy PPP project in the municipality of Codroipo, Italy. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.