Corporación America Italia (CAI), a subsidiary of Corporación América Airports (Caap), a company that operates private sector airport concessions, now has a Dubai firm among the list of their major stakeholders. The Investment Corporation of Dubai (ICD), an investment arm of the Government of Dubai made this move when they acquired a 25 per cent stake in the company.
Though the actual value of the deal remained among the unreleased details, the partnership will open avenues for both the parties. The two companies also jointly signed a Memorandum of Understanding (MOU) that underscores an aim of exploring airport sector related opportunities in the Middle East, Italy and parts of Eastern Europe.
The new partnership is being perceived as the wealth fund’s game plan to expand the scope of its portfolio. The purchase of the stake will now lend the ICD a framework on which new developmental projects and prospects for growth can be identified in the competitive airport sector.