Argentina's Cedicor launches bid for Pisa airport
MILAN, March 4 (Reuters) - Argentina's Cedicor is launching a bid for the company that controls the airport of Pisa for up to 94 million euros, the company said in a statement on Tuesday.
Cedicor, controlled by Argentine airport group Corporacion America, bought 23.4 percent of SAT, the company that runs Pisa airport in January.
On Tuesday, it said it had bought another 4 percent in the company and launched a bid for the rest at 13.15 euros per share.
Last week Cedicor also bought 33.4 percent of Florence airport operator Aeroporto di Firenze and said it would launch a mandatory bid for the rest of the company.
The statement said that once both bids are completed Corporacion America would gradually merge the two Tuscan airports.
The government has called for a reorganisation of Italy's airports after the country's economic crisis undermined revenues of some smaller operators. Many are partly owned by cash-strapped public authorities casting around for fresh income. (Reporting by Massimo Gaia, editing by William Hardy)
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