Atlantia and EDF conclude acquisition of 64% stake in Aeroports de la Cote d'Azur

Atlantia SpA and EDF Invest announced (09-Nov-2016) approval of its acquisition of a 64% stake in Aeroports de la Cote d'Azur. Aeroports de la Cote d'Azur is the holding company of Nice Cote d'Azur Airport, Cannes Mandelieu Airport and Saint Tropez Airport. Atlantia and EDF Invest will be operating under the Azzurra Aeroporti consortium. Atlantia, which owns Aeroporti di Roma, has a collective stake of 75% in Azzurra Aeroporti, while EDF owns the remaining 25%. The total transaction consideration amounts to approximately EUR1.3 billion, of which EUR1.2 billion for the 60% stake of the French State and the remainder for the 4% stake of the Department of Alpes-Maritimes. [more - original PR]