Toscana Aeroporti S p A : announces the acquisition of Cemes Aeroporti S.r.l.. Formation of Costruzioni S.r.l..
January 26, 2021 at 01:00 pm EST
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PRESS RELEASE
TOSCANA AEROPORTI ANNOUNCES THE ACQUISITION
OF CEMES AEROPORTI S.r.l.
FORMATION OF TOSCANA AEROPORTI COSTRUZIONI S.R.L.
Florence, January 26, 2021 Toscana Aeroporti S.p.A. an Italian company listed on the electronic share market (MTA) of Borsa Italiana S.p.A. which manages the Florence and Pisa airports today signed the agreement to acquire a 51% stake in Cemes Aeroporti S.r.l., a recently-formed company operating in the construction sector, which has concurrently changed its corporate name to Toscana Aeroporti Costruzioni S.r.l. (TAC).
For the financial year ended December 31, 2019, Cemes Aeroporti S.r.l. reported value of production amounting to about 240,000.
This transaction falls within Toscana Aeroporti necessary works for the planned infrastructural airports through a subsidiary.
strategy aimed at carrying out the development at the Florence and Pisa
The consideration for the transaction, which Toscana Aeroporti will fund with own
resources, amounts to million, with annual deferred payment in five installments until December 31, 2025. The transaction does not entail any contracts for the assumption of debt or assignment of receivables.
In addition, the agreement between the parties envisages a call option exercisable by Toscana Aeroporti S.p.A. from January 1, 2024 to July 1, 2024 to acquire a further 19% stake
in the target company for a pre-set consideration of
million.
Toscana Aeroporti Chairman Marco Carrai commented: the very challenging market context due to the world pandemic, the Company is looking forward towards the future with strategic decisions that will allow it to invest in the infrastructural development of the Florence and Pisa airports."
Tombari e Associati acted as thelegal advisor for the transaction and KPMG Advisory S.p.A. as financial advisor. The law firm of Atty. Vincenzo Pinto acted as advisor of the selling party.
Contacts:
Media Relations:
Toscana Aeroporti S.p.A.
Barabino & Partners
Investor Relator
Giovanni Vantaggi
Gabriele Paoli
Ph. +39 02/72.02.35.35
Investor Relations Manager
g.vantaggi@barabino.it
gabriele.paoli@toscana-aeroporti.com
Mobile +39 328/83.17.379
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Toscana Aeroporti S.p.A. published this content on 26 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 January 2021 17:59:03 UTC
Toscana Aeroporti SpA is an Italy-based company engaged in the management of airports. The Company is active in the operation of Pisa International Airport and Florence Airport. It divides its activities into two sectors: Aviation and Non Aviation. The Aviation sector includes ground handling services for passengers and aircrafts; landing and take-off services; boarding and disembarking of passengers; aircraft parking; passenger safety services; control of luggage of passengers, and loading and unloading of goods, among others. The Non Aviation sector consist of activities relates to the airport management, such as retail business, restaurants, car parks, car rental, advertising, rental of spaces and offices, and ticketing services, among others.
TOSCANA AEROPORTI S.P.A. 
