The stock of Save. The shares of the Venetian company that manages the airports of Venice and Treviso mark an increase of around 5%, reaching 21,3 euros, above the price of theOpa which will be launched at 21 euros after the reorganization of the shareholding structure.
Indeed, after months of rumors and hypotheses, this morning the company's future structure was announced, thanks to the agreement reached by Enrico Marchi (with its subsidiaries Giovanni Marchi and Aprile) and the historic shareholder Andrew deVido on the latter's exit from Finint, the financial company which holds 59,6% control of Save.
Marchi will acquire the 50% stake in Finint held by De Vido, to then sell it to a BidCo which will be jointly controlled by Marchi himself and the infrastructure funds Deutsche Asset Management and InfraVia. Once these steps have been taken, BidCo will launch a mandatory tender offer on Save at the price of 21 euros per share.
As part of the operation which will see the three entities – Enrico Marchi and the funds managed by Deutsche Asset Management and InfraVia CApital Partners – jointly control BidCo which will launch the takeover bid on Save at 21 euro per share, Star Holdings (indirectly controlled by Morgan Stanley Infrastructure) has undertaken to sell its indirect stake in Save, simultaneously and subject to the completion of the entire transaction. The agreements on the valuation of the Save share at 21 euros were made with the two funds and with Star Holdings itself.
