FLORENCE, ITALY – Argentina’s Corporacion America has launched takeover bids for the companies that manage Italy’s Florence and Pisa airports.
Corporacion Argentina on Feb. 27 acquired a 33.4 percent stake in ADF, the company that manages the Florence airport, for 40 million euros.
Corporacion America on last Friday increased its stake in SAT, the company that manages the Pisa airport, by acquiring a 3.9 percent interest from the MPS bank. That was in addition to the 23.4 percent stake the Argentine group acquired in SAT in January.
The offer to purchase remaining stakes from minority shareholders was made by Cedicor, which controls Corporacion America.
Corporacion America is an Argentine holding which started out in the textile industry, covering the entire process from cotton-growing and spinning to designing and weaving.
It then entered the world of communications, creating a modern multimedia network, which included the best developed cable television system in Latin America, as well as radios, newspapers and broadcast television.
Afterwards, the holding expanded into new activities in airports, infrastructure, energy, agroindustry, services, technology.
It operates the airport and cargo terminals at forty-nine airports of Latin America and Europe. This activity comprises the airport operational and commercial management, as well as fuelling, cargo, and other related services.