Green light from the Catullo S.p.A. Shareholders for negotiations with Save S.p.A
Verona, 27 August 2013 - The Catullo S.p.A. shareholders assembly, after assessing the non-binding proposal received from Save S.p.A. on 1 August, gave the green light for exclusive negotiations up to 30 September, considering an agreement with Save to be in line with the company's strategic vision and with the development of goals defined in the Industrial Plan and approved by the shareholders on 5 July for Verona and Brescia airports. The results will be subject to a new shareholders assembly meeting.
Based on reports from the Board of Directors, the Assembly acknowledged that out of all the operators in the sector who had met to discuss the possibility of agreements, Save S.p.A was the one that had shown an interest in assessing the multi-airport system project. The project, coordinating complementary and efficient operations between the two airports under management, takes advantage of the potential and synergy created by grouping them, streamlining the development of each infrastructure and adequately meeting the territory's current and future traffic demand.
The North East catchment area includes about 15 million residents, registers one of the highest GDP per capita in Europe (almost 20% higher than the European average) and production with exportation second only to Germany's. These characteristics make this area equivalent to European metropolitan areas.
Italy is one of the European countries that has the most difficulty meeting the traffic demand for both passengers and cargo in the mid-long term. The development of an integrated airport group in North East Italy is destined to take on strategic importance for the area and the entire country for the development of air transportation and for its economy.
In the current situation the possible agreement with Save would potentially be the most suitable to achieve the strategic goals of the Catullo S.p.A. shareholders and this is why they gave the go-ahead for exclusive negotiations with Save S.p.A. for a more in depth look at technical and legal issues. The Venice, Verona, Brescia and Treviso airports currently handle about 15 million passengers and almost 80 thousand tons of cargo.
For further information:
Media Relations and Press Office Manager
Garda Airports - Verona and Brescia
phone +39 045 8095784