MILAN (Reuters) -Investment firm Ardian and Italian asset management company Finint Infrastrutture have signed an agreement to jointly acquire Milione Spa, the holding company that controls Save,
Ardian and Finint Infrastrutture Team Up to Acquire Venice Airport Operator
Overview of the Acquisition
MILAN (Reuters) -Investment firm Ardian and Italian asset management company Finint Infrastrutture have signed an agreement to jointly acquire Milione Spa, the holding company that controls Save, operator of several airports including Venice's Marco Polo.
Details of the Transaction
The transaction, expected to close between late 2025 and early 2026, gives the company an equity value of roughly 1.2 billion euros ($1.4 billion), according to a source close to the matter. Including debt, the value rises to 2.1 billion euros.
Strategic Goals of the Partnership
Milione was controlled by DWS Infrastructure and Infravia Capital Partners.
Financial Advisors Involved
The two companies said on Wednesday their partnership was "aimed at supporting the growth of both Save and the (Italian) North-East Airport System, as well as at establishing a strategic operator to pursue new acquisitions as part of an external growth strategy."
Save manages a network of airports including Venice, Verona, Treviso and Brescia in northern Italy, and holds a stake in Charleroi airport in Belgium.
Mediobanca and Intesa Sanpaolo acted as financial advisors to Ardian, while Finint Infrastrutture was supported by Banca Finint and Goldman Sachs. Infravia and DWS were assisted by Rothschild and Morgan Stanley.
($1 = 0.8598 euros)
(Reporting by Elisa and Elvira PollinaEditing by Keith Weir)
