The Northeast airport hub is about to become a reality. Save, the company that manages the airports of Venice and Treviso, has announced that the agreement has been finalized with Catullo - the group that manages the airports of Verona and Brescia - and the related key shareholders to kick off the integration project airport systems throughout the Veneto region.
By April 30, the parties should arrive at signing the binding agreement, which provides for the first entry of Save in Catullo with the aim of reaching 35% of the share capital. The operation will take place through a probably reserved capital increase.
“We will set up a newco – explained Paolo Arena, president of Catullo Spa – with shareholders from Trento, the Chamber of Commerce, the Province and the Municipality of Verona. Save will enter by acquiring the share of a public shareholder such as the Municipality of Villafranca or a private one. The estimated value of the Verona and Brescia airport system is close to 100 million euros».
In the newco, Arena specified, governance will be guaranteed by a board of 9 people. The president and vice president will be appointed by Catullo, the managing director and three directors by Save.
"With the creation of the airport hub - said Arena - the airports of Venice, Treviso, Verona and Brescia will enhance their function of service to the country to the reference territory, an area of about 15 million inhabitants, equivalent in characteristics to the areas European subways".
The Save stock, around 17, moves on the edge of the minus sign on a difficult day for the Italian stock exchange.
