F2i To Buy Stake In Milan Airport Operator

December 17, 2011

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Italian infrastructure fund F2i has won the City of Milan's auction of a 29.75 percent stake in SEA, the operator of Milan's Malpensa and Linate airports, with a EUR€385 million (USD$502 million) bid, a city official said on Friday.

F2i, in which state holding CDP and bank sector players own stakes, beat a higher EUR&euro425 million offer from Indian group SREI infrastructure fund which was judged to have deposited its bid after the deadline.

The award to F2i was announced by the president of the auction commission Davide Corritore at the end of a near seven-hour meeting.

The exclusion of SREI was criticised by its Italian representative Vinod Sahai. He said it was "disconcerting and is not correct". The SREI fund will decide by Monday if it challenges the decision, he said.

"We want to take new Indian companies to Malpensa and manage other airports in India with SEA," he said.

(Reuters)