BUENOS AIRES: Corporación América Airports S.A. (NYSE: CAAP), one of the world’s largest private airport operators, announced Thursday it has acquired the remaining 25% stake in its Italian subsidiary, Corporación América Italia S.p.A. (CAI), from the Investment Corporation of Dubai (ICD).
The transaction, completed through a share swap agreement, gives CAAP full ownership of CAI, which holds a 62.28% interest in Toscana Aeroporti S.p.A. (TA), the operator of Pisa and Florence airports. As part of the deal, CAAP issued 1,996,439 new shares to ICD.
An independent firm provided a fairness opinion to ensure proper valuation. The acquisition increases CAAP’s indirect economic stake in TA by 15.6%, reinforcing its presence in Italy’s airport sector.
CAAP operates 52 airports across Latin America and Europe, including in Argentina, Brazil, Uruguay, Ecuador, Armenia and Italy. In 2024, the company served 79 million passengers, a slight decline from previous years.
CAAP shares trade on the New York Stock Exchange under the ticker “CAAP.”