Morgan Stanley Infrastructure has signed an agreement with Finanziaria Internazionale to acquire a 16.4 per cent stake in Agorà Investimenti, which holds a major stake in the compan
Morgan Stanley Infrastructure has signed an agreement with Finanziaria Internazionale to acquire a 16.4 per cent stake in Agorà Investimenti, which holds a major stake in the company that operates the Venice and Treviso airports. Following completion of the transaction, Agorà will be 50.1 per cent owned by Finanziaria and Assicurazioni Generali will hold the remaining 33.5 per cent.
Agorà controls 38.9 per cent of the shares of Aeroporto di Venezia Marco Polo – SAVE, which is listed on the Italian Stock Exchange with a market capitalisation of EUR612m and is active in airport operation, transport infrastructure including railway stations, motorways and ports, and services for travellers. The Venice and Treviso airports handled 8.6 million passengers between them last year.
‘We are very pleased to partner with Morgan Stanley Infrastructure in Agorà,’ says Enrico Marchi, chairman of SAVE and Finanziaria Internazionale. ‘Our project to create a strong Italian player in mobility infrastructure management has already achieved considerable results. We believe Morgan Stanley’s contribution will ensure further growth for SAVE, including as an active investor in the international markets.’
Andrea de Vido, chief executive of Finanziaria Internazionale adds ‘We are looking forward to working closely with our partners at Generali and Morgan Stanley Infrastructure.’
‘The SAVE airport system, which represents a benchmark within the industry, benefits from a unique tourism market and strong Veneto region economics, and it will also benefit from an improved infrastructure endowment resulting from the development of road and rail infrastructure in the Venice region’ says Domenico Siniscalco, vice-chairman of Morgan Stanley and head of Morgan Stanley in Italy. ‘We are pleased to invest along with Finanziaria Internazionale and Generali in the Venice and Treviso airports.’
Finanziaria Internazionale is an investment banking boutique based in Conegliano, Treviso, with offices in Milan and Luxembourg. It is primarily active in merger and acquisition advisory, private equity, asset management and securitisation, and employs 320 people.
