November 11, 2013 / 5:26 PM / in 4 years

Silvano Toti to sell entire Gemina stake - Unicredit

MILAN/ROME, Nov 11 (Reuters) - Financial holding group Silvano Toti SpA plans to sell its entire 11.6 percent stake in Italian airport operator Gemina to institutional investors via an accelerated bookbuilding, UniCredit said on Monday.

UniCredit is acting as sole bookrunner for the transaction, the lender said in a statement.

The sale comes after Gemina shares worth more than 25.1 million euros ($33.7 million) were sold by Silvano Toti last month, Gemina said in a separate statement.

Three sources close to the deal told Reuters earlier on Monday that Silvano Toti’s stake in Gemina, which once totalled 12.8 percent or around 188.6 million ordinary shares, was valued at around 300 million euros ($402 million).

The companies were not immediately available for comment.

Holding group Gemina runs Rome’s airports and is merging with motorway group Atlantia, with the tie-up expected to be concluded by December. ($1 = 0.7459 euros) (Reporting by Stefano Bernabei and Paola Arosio; Writing by Agnieszka Flak; Editing by David Holmes)

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