Changi Airport Group acquires 5% stake in Gemina

Singapore Changi Airport Group (CAG) acquired (01-Mar-2010) a 5% stake in Gemina SpA, the holding company of Aeroporti di Roma (AdR), through its wholly-owned subsidiary, Changi Airports International (CAI), for USD70.9 million. The investment is part of a strategic industrial partnership to be forged with the shareholders' pact of Gemina, which includes Investimenti Infrastrutture, Mediobanca, Assicurazioni Generali and UniCredit. Under the proposed industrial partnership, CAI will play a key role in the future expansion and development of the Rome airport group, by establishing a long-term technical partnership with AdR to provide management support in areas such as airport operations, commercial development and master planning. In addition, CAI will also be represented on the Board of Directors of both Gemina and AdR. [more]