MILAN Italy's Atlantia will buy an additional 0.8 percent stake in Venice airport operator SAVE raising its overall holding to 22.1 percent, the infrastructure group said on Wednesday.
Atlantia said in a statement it would purchase the further stake from SAVE shareholder Fondazione di Venezia at a price of 15.25 euros per share.
Under an earn-out clause, Atlantia will increase the price paid of a public tender or exchange offer on SAVE shares is launched at a higher price within the next three years.
Earlier this year, Atlantia bought a 21.3 percent stake in SAVE from San Lazzaro Investment Spain, one of the investment vehicles of Amber Capital.
(Reporting by Francesca Landini, editing by Valentina Za)