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Genoa seeks €30m from airport stake sale

The Port Authority of Genoa is selling its 60% shareholding in Genoa airport and is requesting expressions of interest from the private sector by July 22. The sale is expected to be concluded in late November.

The port authority of the northern Italian city of Genoa is seeking expressions of interest from the private sector for the acquisition of its majority stake in the city’s airport.

The airport, known as Cristoforo Colombo Airport, is 60 percent-owned by the Port Authority of Genoa, 25 percent-owned by the Genoa Chamber of Commerce and 15 percent-owned by airports operator Aeroporti di Roma. The port authority said in the tender documents that it is seeking €30 million for its stake.

Interested parties have been told to submit their expressions of interest by July 22 with selected candidates then invited to submit offers by August 12. A winner should be known in late November, when offers are opened on November 21, according to the tender announcement.

Italian infrastructure fund F2i, which bought a 65 percent stake in Naples airport from UK airports operator BAA last October for €150 million, could be a contender for the Genoa stake acquisition.

Genoa´s Cristoforo Colombo Airport, which is situated in an artificial peninsula some six kilometers away from the city centre, carried almost 1.3 million passengers in 2010.

Link to English tender document:  http://servizi.porto.genova.it/archivio/GARA/PEPUB/10710.ashx