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EURNEKIAN IN POLE POSITION TO BUY ITALY'S ATA - REPORT
SeeNews Italy
June 25, 2013 Tuesday 1:02 PM EEST
(SeeNews) - Jun 25, 2013 - Eduardo Eurnekian is in pole position
to buy Italy's Ali Trasporti Aerei (ATA), part of debt-ridden group
Acqua Pia Antica Marcia, MF-Milano Finanza reported on Tuesday quoting
sources close to the dossier.
ATA owns the western passenger terminal at Milan's Linate airport,
among other infrastructure.
According to the paper, Rothschild, which advises the buyer,
received on Friday four offers for ATA, respectively from Eurnekian's
Corporation America, from SEA Milano, and from the Vei Capital and
Avm Associati funds.
According to MF's sources, the offer submitted by the
Argentinian-Armenian businessman was the best in terms of value and is
said to be of EUR 25 million (USD 32.8m). Eurnekian's group declined
to comment on the issue, Milano Finanza said.
SEA, the operator of Milan's Linate and Malpensa airports, is said
to have placed an offer of EUR 24 million.
The other two bidders have submitted offers of significantly lower
amount and thus dropped out of the race, according to the paper.
The rival offers of Corporation America and SEA will be studied by
the advisers of ATA and by the court-appointed commissioners of Acqua
Pia Antica Marcia, who target to sell the assets at the best possible
price, Milano Finanza commented.
ATA would guarantee its buyer a turnover of some EUR 16 million and
earnings before interest, tax, depreciation and amortisation (EBITDA)
of EUR 3.8 million, with an EBITDA margin close to 24%. ATA's buyer
will also be in charge of some EUR 20 million of investments necessary
to adapt the infrastructure to the traffic demand in view of EXPO
2015, to take place in Milan, and according to the paper, Eurnekian
is ready for such a commitment.
(EUR 1 = USD 1.312)
From: A. Papazian
SeeNews Italy
June 25, 2013 Tuesday 1:02 PM EEST
(SeeNews) - Jun 25, 2013 - Eduardo Eurnekian is in pole position
to buy Italy's Ali Trasporti Aerei (ATA), part of debt-ridden group
Acqua Pia Antica Marcia, MF-Milano Finanza reported on Tuesday quoting
sources close to the dossier.
ATA owns the western passenger terminal at Milan's Linate airport,
among other infrastructure.
According to the paper, Rothschild, which advises the buyer,
received on Friday four offers for ATA, respectively from Eurnekian's
Corporation America, from SEA Milano, and from the Vei Capital and
Avm Associati funds.
According to MF's sources, the offer submitted by the
Argentinian-Armenian businessman was the best in terms of value and is
said to be of EUR 25 million (USD 32.8m). Eurnekian's group declined
to comment on the issue, Milano Finanza said.
SEA, the operator of Milan's Linate and Malpensa airports, is said
to have placed an offer of EUR 24 million.
The other two bidders have submitted offers of significantly lower
amount and thus dropped out of the race, according to the paper.
The rival offers of Corporation America and SEA will be studied by
the advisers of ATA and by the court-appointed commissioners of Acqua
Pia Antica Marcia, who target to sell the assets at the best possible
price, Milano Finanza commented.
ATA would guarantee its buyer a turnover of some EUR 16 million and
earnings before interest, tax, depreciation and amortisation (EBITDA)
of EUR 3.8 million, with an EBITDA margin close to 24%. ATA's buyer
will also be in charge of some EUR 20 million of investments necessary
to adapt the infrastructure to the traffic demand in view of EXPO
2015, to take place in Milan, and according to the paper, Eurnekian
is ready for such a commitment.
(EUR 1 = USD 1.312)
From: A. Papazian