Toscana Aeroporti S.p.A. (BIT:TYA) entered into an agreement to acquire 51% stake in Cemes Aeroporti S.r.l. for €4.5 million on January 26, 2021. Under the terms of agreement, consideration will be paid 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. The consideration for the transaction, will be funded by Toscana Aeroporti S.p.A. own resources. Cemes Aeroporti S.r.l. concurrently changed it's corporate name to Toscana Aeroporti Construzioni S.r.l. In addition, the agreement between Toscana Aeroporti S.p.A. and Toscana Aeroporti Costruzioni S.r.l. 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 Toscana Aeroporti Costruzioni S.r.l. for a pre-set consideration of €2.2 million. Tombari D'Angelo e Associati acted as legal advisor and KPMG Advisory S.p.A. acted as financial advisor to Toscana Aeroporti S.p.A. The law firm of Prof. Atty. Vincenzo Pinto acted as legal advisor to selling party.