Changi Airports International (CAI), a wholly-owned subsidiary of Changi Airport Group (CAG), has acquired a 5% stake in Gemina SpA, the holding company of Aeroporti di Roma (AdR).
Following the US$100m acquisition, CAI has become one of the key shareholders of Gemina SpA.
The acquisition marks CAI's largest investment to date and is a major step for CAG in its overseas expansion strategy in the European aviation market.
CAI's investment is part of a proposed strategic industrial partnership with Gemina SpA.
Through the industrial partnership, CAI will establish a long-term technical partnership with AdR to provide management support in areas such as airport operations, commercial development and master planning.
Gemina's Aeroporti di Roma owns the concession to operate Italy's largest airport group, which includes the Leonardo da Vinci Airport and Giovan Battista Pastine Airport.