Steer played an integral role as Technical and Commercial Advisor in the sale of a 49% stake in 2i Aeroporti, a key player accounting for just under a third of Italy’s passenger traffic and around 70% of cargo.
The stake was sold by Ardian and Crédit Agricole Assurances to Asterion Industrial Partners, marking a significant transaction in the Italian aviation sector.
2i Aeroporti became jointly owned by Italian fund manager F2i, an Ardian-led consortium, and Crédit Agricole Assurances in 2015. Since then, 2i Aeroporti expanded its portfolio to include direct and indirect participations in several major Italian airports, including Milan Malpensa, Milan Linate, Naples, Salerno (recently opened to commercial aviation), Turin, Trieste, Bologna and Bergamo.
What we did
As Technical and Commercial Advisor, Steer provided a comprehensive Vendor Due Diligence assessment of five airports within the 2i Aeroporti portfolio (Milan Linate, Milan Malpensa, Turin, Naples and Trieste) alongside the new Salerno Airport.
Our advisory role included:
This work covered the operational, financial and technical aspects of the portfolio to support evaluation of the transaction.
Impact and outcomes
Our work helped identify key opportunities and mitigate potential risks associated with the investment, demonstrating Steer’s expertise in aviation and infrastructure advisory and its ability to deliver value-added support on complex transactions.
Managing a diverse range of stakeholders, Steer developed a Vendor Due Diligence Report that was well received by the market, as evidenced by the successful outcome of the transaction.
For more information about our advisory expertise in this area, please contact Marco Concari or Michele Tavani.
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