Singapore’s Changi Airport said it has acquired a 5% stake in Gemina S.p.A (GEMI.MI), the operator of Rome’s two major airports, for $100 million, its biggest acquisition ever.
Gemina’s Aeroporti di Roma owns the concession to operate Italy’s largest airport group, which comprises Leonardo da Vinci Airport and Giovan Battista Pastine Airport.
Both airports serve the Italian capital and have a combined air passenger volume of 38.6 million in 2009, slightly higher than Changi’s 37.2 million passengers last year.