Asterion Industrial Partners to Acquire 49% Stake in 2i Aeroporti

Cleary Gottlieb is representing Asterion Industrial Partners in the acquisition of a 49% stake currently held by Ardian and Crédit Agricole Assurances in 2i Aeroporti.

2i Aeroporti is the holding company that holds direct and indirect stakes in the Milano Malpensa and Linate, Naples, Salerno (recently opened to commercial aviation), Torino, Trieste, Bologna, and Bergamo airports, accounting for over 32% of passengers traffic (63m passengers in aggregate) and c. 70% of cargo (758k tons) in Italy.

2i Aeroporti is the main player in the Italian airports space and an asset of strategic importance for the country, including because of its stake in the Milan Linate and the Milan Malpensa airport manager, which the company holds together with the City of Milan, and it has been jointly owned by Italian fund manager F2i and the Ardian-led consortium along with Crédit Agricole Assurances since April 2015.

The completion of the transaction is subject to customary conditions precedent, including the approval of the relevant regulatory authorities.