MSC Cruises, Costa Crociere Royal Caribbean Cruises and Global Holding Ports enter in the society that manages the passenger terminal of Venice



Yesterday the board of directors of Regional Financial institution Venetian Development Spa, the holding company controlled from the Region of Veneto, has deliberated to on sale exercise the preemptive right on 65.98% of the share capital of APVS Srl place from APV Spa Investments, holding entirely stopped from the Harbour Authority of Venice. APVS Srl, that it is constituted in 2013 by APV Investments with Venetian Development, is the society that stops 53.0% of VTP Spa (Venice Passenger terminal), society that in its turn manages the Passenger terminal of Venice.

At the end last year the Harbour Authority of Venice has offered for sale, through appropriate ban of contest, 99% of own participation in APVS Srl ( on 21 December 2015). Al contest ban has participated as only offerer a composed network of private from crocieristiche companies MSC Cruises, Costa Crociere Royal Caribbean Cruises and Turkish terminalistico manager Global Liman Isletmeleri A.S. (Global Holding Ports - GHP) controlled from the Global Investment Holdings, grouped under the corporate name Venice Srl Investments, that it has offered little more than 24 million euros for the purchase of the entire quota cession object.

Venetian Development has announced to have determined to exercise own preemptive right statutorily previewed to the same offered price from the private network and has remembered that, according to the norm of vigilance, Veneto Development it is held to respect tightening limits of concentration of the resources allotted in the single investments regarding own patrimony and that, for such reason, the Regional Financial institution is held to immediately place on sale a quota pairs to 48% of APVS Srl, maintaining contextually a participation of control pairs to 51%.

Specifying that own board of directors therefore has estimated two different offered for the alienation of the quotas, Veneto Development has specified that, in the within of the analysis of the contents of these offers, it has considered preferable that of Venice Srl Investments "as allows with the Regional Financial institution to obtain the control of APVS with smaller an expenditure financial, besides to supply adequate guarantees on the development of the business managed from VTP".

In particular, Venice Srl Investments will pour to Venetian Development about 17,5 million euros for the purchase of 48% of the quotas, with faculty for the Regional Financial institution in the period comprised between on May 15, 2017 and on November 15, 2018 yielding own insindacabile judgment a variable percentage between 3% and 51% of the capital of APVS to the same Venice Investments, to a price parametrato to the paid fee yesterday from Venetian Development for the exercise of the pre-emption, besides an increase of annual 2%. Venice Investments guarantees with a bank surety bond before demanded this second phase of the operation. The improvement of the operation is however subordinated to the fact that neither APV Investments neither the other associates of VTP exercise they it turns own preemptive right on which offered for sale 48% from Venetian Development.

"In the end of all the operation, with the minimal expenditure of about 6,5 million - the president of Venetian Development has explained, Massimo Tussardi - we become associates of majority of a society that can make very for the economy of the territory and that it already generates operating marginalities of about 9 million euros, with increase potentiality also through complementary activities, today not totally activated".

Venice Srl Investments has received with satisfaction the deliberation of Venetian Development. In a note the society participated from the three crocieristiche companies and the Turkish terminalista has emphasized to have learned "with favor that own offer for the purchase of the APVS minority is judged the best one from the board of directors of Venetian Development. The associates of Venice Investments, MSC Cruises, Costa Group, Royal Caribbean and Global Holding Ports - the note continues - are aware of the great importance of the crocieristica for Venice and are convinced that also thanks to their contribution the lagoon city will be able to at the same time maximize the benefit deriving from the forecast of increase of the number of passengers in arrival and departure via ship, assuring investments and occupation for Venice and the territory".

Venice Investments has concluded specifying that, to the term of expiring of the period of pre-emption previewed for the associates of minority of VTP, that is Finpax Srl (22.18%), SAVE Spa (22.18%) and Chamber of Commerce of Venice, Rovigo, Lagoon Delta (2.64%), with Venetian Development will manage "an industrial plan face to an immediate one throws again of the competitiveness of VTP and to the ulterior development of the Venetian crocieristica, for the benefit of the people who directly and indirectly work to you and of the city of Venice and its territory".