Changi Airport Group invests S$100mln in Rome airports

Changi Airport Group has acquired a 5% stake, its largest acquisition to date, in the holding company of Aeroporti di Roma.

The S$100 million investment made CAG's wholly-owned subsidiary Changi Airports International one of the key shareholders of Gemina S.p.A.

Aeroporti di Roma owns the concession to operate the Leonardo da Vinci Airport and the Giovan Battista Pastine Airport, which together handled 382,082 aircraft movements and more than 38.6 million passengers in 2009.

Mr Lee Seow Hiang, Changi Airport Group's Chief Executive Officer, said, "With this investment, CAG becomes the first Asian operator to invest in a European capital city airport with a substantial strategic role. Rome, one of Europe's leading capitals, has over 3 million people and is the primary gateway to Italy, Europe's fourth largest economy and population."