Clifford Chance advised the consortium made up of Ardian and Finint Infrastrutture on the acquisition and financing of the Venice Airport and the other airports of the SAVE Group

Global law firm Clifford Chance advised world-leading private investment firm Ardian and Finint Infrastrutture in the signing of the agreement for the joint acquisition of Milione S.p.A., the parent company of Save S.p.A., which primarily operates in the airport sector, including Venice Marco Polo Airport, one of Italy’s three intercontinental airports and a strategic gateway at both national and international level. The Save Group includes the airports of Venice, Verona, Treviso and Brescia, as well as a participation in Charleroi Airport in Belgium.

The transaction, whose closing is expected by the end of 2025/beginning of 2026, marks the beginning of a strategic partnership between Ardian and Finint Infrastrutture, aimed at supporting the growth of both Save and the North-East Airport System, and establishing a strategic operator to pursue new acquisitions as part of an external growth strategy.

Clifford Chance advised the consortium with a multidisciplinary and cross-border team from Milan, Rome, and Brussels offices, led by partner Umberto Penco Salvi, and made up of senior associates Vittorio Novelli and Antonella Scarciello, associate Greta Bilotta, and trainee lawyers Federica Giovannini and Alice Ventrella for Corporate M&A matters. Partner Chiara Commis, along with associate Alessandra Ravazzolo, counsel Jonathan Astbury, senior associate Francesco Napoli, and trainee lawyer Elia Brustia, oversaw all the aspects related to financial debt, including the preparation and negotiation of commitment documents concerning to acquisition financing, equity bridge loans, and the future refinancing of the target company’s bank debt, as well as the waiver of the change-of-control clauses in the existing debt. Partner Luciano Di Via, along with senior associate Antonio Mirabile and associate Eleonora Zappalorto advised on antitrust and Golden Power matters. Finally, partner Xavier Remy, along with counsel Gillis Waelkens, and associates Octave Schyns and Avril Miller covered Belgian law matters, including Golden Power aspects.