Dubai investors of ICD acquired 25% of Italian firm CAI

Dubai investors of ICD (Investment Corporation of Dubai) has acquired 25% stake of Italian company Corporación America Italia (CAI).

CAI is the controlling entity of Toscana Aeroporti which manages Florence and Pisa airports in Italy. The amount of the deal is not disclosed but Toscana Aeroporti had a total market cap of around $310 million. The deal has been done with their parent investor CAAP which operates 52 airports and 76 million passengers in seven countries across Latin America and Europe: Argentina, Brazil, Uruguay, Peru, Ecuador, Armenia and Italy. (Investment Corporation of Dubai is established in 2006 and has 33 major holdings and investments). More details on the deal here.

Investment Corporation of Dubai is listed in the Middle East Investors Directory with the code MA1610.