Changi Airport Group invests in Rome Airports
Acquisition is largest investment to date
SINGAPORE, 1 March 2010 – Changi Airport Group (CAG), through its wholly-owned
subsidiary Changi Airports International (CAI), has acquired a 5% stake in Gemina S.p.A.,
the holding company of Aeroporti di Roma (AdR).
The S$100 million acquisition makes CAI one of the key shareholders of Gemina S.p.A.,
which is listed on the Milan Stock Exchange. It represents CAI’s largest investment to
date and marks a major step forward in CAG’s strategy to expand overseas as it enters
the well-established European aviation market.
AdR owns the concession to operate Italy’s largest airport group, comprising the
Leonardo da Vinci Airport and the Giovan Battista Pastine Airport (also known as
Fiumicino and Ciampino airports respectively). Both airports serve the capital city of
Rome, and together, handled over 38.6 million passengers and 382,082 aircraft
movements in 2009. Leonardo da Vinci Airport is the sixth largest hub in Europe,
handling more than 33.8 million passengers last year. In January 2010, AdR continued
its strong recovery from the global economic crisis as it registered 12.0% growth in
passenger volumes.
The investment is an integral part of a strategic industrial partnership to be forged with the
shareholders’ pact of Gemina S.p.A. which includes, amongst others, Investimenti
Infrastrutture (a company of Sintonia S.p.A.), Mediobanca, Assicurazioni Generali and
UniCredit.
Under the proposed industrial partnership, CAI will play a key role in the future expansion
and development of the Rome airport group by establishing a long-term technical
partnership with AdR to provide management support in areas such as airport operations,
Media Release
commercial development and master planning. In addition, CAI will also be represented
on the Board of Directors of both Gemina S.p.A. and AdR.
Mr Lee Seow Hiang, Changi Airport Group’s Chief Executive Officer, said the deal – the
Group’s second since its corporatisation in July last year – sets a milestone for CAG.
“With this investment, CAG becomes the first Asian operator to invest in a European
capital city airport with a substantial strategic role. Rome, one of Europe’s leading
capitals, has over 3 million people and is the primary gateway to Italy, Europe’s fourth
largest economy and population.”
Mr Lee added, “CAG is proud to be associated with AdR’s ambitious plan to develop the
airports into world-class assets. We will leverage our experience and expertise to assist
AdR and look forward to working with the shareholders and management of Gemina and
AdR to achieve the full development and commercial potential of the Rome airports.”
About Changi Airport Group
Changi Airport Group was formed on 1 July 2009 as a result of the corporatisation of
Singapore Changi Airport. As the airport company managing Changi Airport, the world's
most awarded airport, Changi Airport Group undertakes key functions focusing on airport
operations and management, air hub development, commercial activities and airport
emergency services. Through its subsidiary Changi Airports International, the Group
invests in and manages foreign airports to spread the success of Changi Airport far and
wide.
Changi Airport handled 37.2 million passenger movements in 2009 and registered a
monthly record of 3.83 million in December 2009. As at 1 February 2010, Changi serves
84 airlines flying to more than 200 cities in 60 countries and territories worldwide.
About Changi Airports International
Changi Airports International (CAI) is Changi Airport Group’s dedicated subsidiary for
overseas ventures. It has been involved in the development and management of various
airports throughout the world. CAI is building a portfolio of airport investments worldwide
with strong markets and significant development potential. As an investor, CAI seeks to
play an active and strategic role in helping create and sustain real asset value growth
through superior service performance, balanced commercial development and
responsible airport planning, among others. The most recent project is a 26% stake In
India’s Bengal Aerotropolis Project Limited.
About Gemina S.p.A.
Gemina S.p.A. is an Italy-based investment holding company whose most significant
asset is a 95.76% direct interest in Aeroporti di Roma SpA (AdR). Listed on the Milan
Stock Exchange since 1981, Gemina also holds minority interests in several companies
involved in electrical and thermal energy co-generation, air traffic control system design,
and provision of financial advisory service.
About Aeroporti di Roma
Aeroporti di Roma (AdR) has a public concession until 2044 to manage and to develop
the Rome airport group which currently consists of the Leonardo da Vinci International
Airport (Fiumicino) and the G.B. Pastine Airport (Ciampino). Fiumicino Airport is the main
international gateway to Rome and one of the top ten busiest airports in Europe, handling
33.8 million passengers in 2009. Ciampino Airport is a smaller airport close to the city
centre dedicated to servicing low cost carriers. Ciampino managed 4.8 million passengers
in 2009.
www.changiairportgroup.com/export/sites/caas/assets/media_release_2010/01_Mar_2010.pdf
Acquisition is largest investment to date
SINGAPORE, 1 March 2010 – Changi Airport Group (CAG), through its wholly-owned
subsidiary Changi Airports International (CAI), has acquired a 5% stake in Gemina S.p.A.,
the holding company of Aeroporti di Roma (AdR).
The S$100 million acquisition makes CAI one of the key shareholders of Gemina S.p.A.,
which is listed on the Milan Stock Exchange. It represents CAI’s largest investment to
date and marks a major step forward in CAG’s strategy to expand overseas as it enters
the well-established European aviation market.
AdR owns the concession to operate Italy’s largest airport group, comprising the
Leonardo da Vinci Airport and the Giovan Battista Pastine Airport (also known as
Fiumicino and Ciampino airports respectively). Both airports serve the capital city of
Rome, and together, handled over 38.6 million passengers and 382,082 aircraft
movements in 2009. Leonardo da Vinci Airport is the sixth largest hub in Europe,
handling more than 33.8 million passengers last year. In January 2010, AdR continued
its strong recovery from the global economic crisis as it registered 12.0% growth in
passenger volumes.
The investment is an integral part of a strategic industrial partnership to be forged with the
shareholders’ pact of Gemina S.p.A. which includes, amongst others, Investimenti
Infrastrutture (a company of Sintonia S.p.A.), Mediobanca, Assicurazioni Generali and
UniCredit.
Under the proposed industrial partnership, CAI will play a key role in the future expansion
and development of the Rome airport group by establishing a long-term technical
partnership with AdR to provide management support in areas such as airport operations,
Media Release
commercial development and master planning. In addition, CAI will also be represented
on the Board of Directors of both Gemina S.p.A. and AdR.
Mr Lee Seow Hiang, Changi Airport Group’s Chief Executive Officer, said the deal – the
Group’s second since its corporatisation in July last year – sets a milestone for CAG.
“With this investment, CAG becomes the first Asian operator to invest in a European
capital city airport with a substantial strategic role. Rome, one of Europe’s leading
capitals, has over 3 million people and is the primary gateway to Italy, Europe’s fourth
largest economy and population.”
Mr Lee added, “CAG is proud to be associated with AdR’s ambitious plan to develop the
airports into world-class assets. We will leverage our experience and expertise to assist
AdR and look forward to working with the shareholders and management of Gemina and
AdR to achieve the full development and commercial potential of the Rome airports.”
About Changi Airport Group
Changi Airport Group was formed on 1 July 2009 as a result of the corporatisation of
Singapore Changi Airport. As the airport company managing Changi Airport, the world's
most awarded airport, Changi Airport Group undertakes key functions focusing on airport
operations and management, air hub development, commercial activities and airport
emergency services. Through its subsidiary Changi Airports International, the Group
invests in and manages foreign airports to spread the success of Changi Airport far and
wide.
Changi Airport handled 37.2 million passenger movements in 2009 and registered a
monthly record of 3.83 million in December 2009. As at 1 February 2010, Changi serves
84 airlines flying to more than 200 cities in 60 countries and territories worldwide.
About Changi Airports International
Changi Airports International (CAI) is Changi Airport Group’s dedicated subsidiary for
overseas ventures. It has been involved in the development and management of various
airports throughout the world. CAI is building a portfolio of airport investments worldwide
with strong markets and significant development potential. As an investor, CAI seeks to
play an active and strategic role in helping create and sustain real asset value growth
through superior service performance, balanced commercial development and
responsible airport planning, among others. The most recent project is a 26% stake In
India’s Bengal Aerotropolis Project Limited.
About Gemina S.p.A.
Gemina S.p.A. is an Italy-based investment holding company whose most significant
asset is a 95.76% direct interest in Aeroporti di Roma SpA (AdR). Listed on the Milan
Stock Exchange since 1981, Gemina also holds minority interests in several companies
involved in electrical and thermal energy co-generation, air traffic control system design,
and provision of financial advisory service.
About Aeroporti di Roma
Aeroporti di Roma (AdR) has a public concession until 2044 to manage and to develop
the Rome airport group which currently consists of the Leonardo da Vinci International
Airport (Fiumicino) and the G.B. Pastine Airport (Ciampino). Fiumicino Airport is the main
international gateway to Rome and one of the top ten busiest airports in Europe, handling
33.8 million passengers in 2009. Ciampino Airport is a smaller airport close to the city
centre dedicated to servicing low cost carriers. Ciampino managed 4.8 million passengers
in 2009.
www.changiairportgroup.com/export/sites/caas/assets/media_release_2010/01_Mar_2010.pdf