F2i SGR has signed an agreement for the acquisition from Alisarda SpA of 80% of Geasar SpA, the management company of Olbia Costa Smeralda Airport.

The acquisition, whose completion is subject to the authorisations from the competent authorities, will be carried out through F2i Aeroporti 2, which currently already has a controlling interest in Sogeaal SpA (71%), the management company of Alghero airport. The Chambers of Commerce of Sassari and Nuoro and the Regional Authority of Sardinia will continue to be shareholders of Geasar (Olbia), with around 20% of the capital. The Regional Authority of Sardinia is already a partner of F2i Aeroporti 2 in Sogeaal (Alghero) with a direct and indirect holding of 29%.

F2i Aeroporti 2, which will consolidate the airport operations of Northern Sardinia (around 4.4 million total passengers in 2019), will be controlled by two Funds managed by F2i (the ANIA-F2i Fund and the Third F2i Fund) and by Fondazione Sardegna which, in view of the transaction’s importance for the region, has chosen to support F2i in the investment.

Olbia airport is the second largest airport in Sardinia in terms of passenger numbers and one of the main hubs in Europe for general aviation (private jets). The growth in passenger numbers at the airport over the last decade, also thanks to the efficient management of operations, has been higher than for the Italian market and still has significant growth prospects, in support of which investments of over EUR 120 million (US$ 141.81 million) are planned for the expansion of terminal and runway capacity.