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ICD Becomes Shareholder in CAAP
Corporación América Airports S.A. (NYSE:CAAP), ("CAAP" or the "Company"), one of the world's leading private airport operators, announced today that it has acquired, through a wholly-owned subsidiary, the remaining 25% interest in Corporación América Italia S.p.A. ("CAI") from the Investment Corporation of Dubai ("ICD"), thereby increasing its total interest in CAI to 100%. CAI holds a 62.28% interest in Toscana Aeroporti S.p.A. ("TA"), the Company's subsidiary that operates the Pisa and Florence airports.
The transaction was completed through a share swap agreement, with CAAP delivering 1,996,439 newly issued shares to ICD as consideration for the 25% interest in CAI. To ensure a fair valuation, an internationally recognized firm was engaged to provide an independent fairness opinion.
With this acquisition, CAAP has increased its indirect economic interest in Toscana Aeroporti S.p.A. by 15.6%, further strengthening its strategic position in the Italian airport sector.
Posted In: CAAP
