Merged Italian transport groups Atlantia, Gemina to bid for Brazilian airports

The new group formed from the merger of Italian motorway group Atlantia SpA (BIT:ATL) and airport operator Gemina SpA (BIT:GEM) will consider making bids for Brazilian airports in Belo Horizonte and Rio de Janeiro, Atlantia’s CEO Giovanni Castellucci told a conference call.

The statement was made after the boards of directors of both companies approved earlier a plan to combine their operations via an all-stock deal, in a move to create a global leader in the motorway and airport infrastructure sector.

Speaking at a conference call, Castellucci said that the new entity would continue investing some EUR100m (USD130.2m) to EUR200m a year in its international growth. He also explained that Atlantia had decided to combine its operations with Gemina mainly because the move would support the growth of the Rome airport hub of Fiumicino in the medium to long term. Fiumicino is owned by Aeroporti di Roma SpA (ADR), the airport operator of Rome’s airports which is controlled by Gemina.

The tie-up deal is subject to approval by both companies’ shareholders and regulatory clearance, among other conditions, and is expected to be completed by the end of 2013.