Airport, the actions of the Province are on the market – The Tirreno

 PISA. They will most likely those of the first actions of the Province Sat, holding a public body Pisa, to be sold. Requires the law even before the procedures already underway for the merger of the airports of Pisa and Florence. The shares, to be more precise, will be those of the company Toscana Airports. Therefore, we will proceed to the merger (with related exchange).

 

  Disposals. The matter is not so simple and should take one step at a time. The county council has recently approved a plan to rationalize the company and company shares. And ‘as required by law 190/2014 (stability). The province, which had already started this process in 2008, with a further review in 2013, complied by the deadline in March. The main novelty is that, compared to the previous list of companies being disposed of, there was also the inclusion of the shares Sat. Here too there has been a change in the law: earlier, in fact, listed companies were excluded from the obligation of institutions to exit from investments not related to functions closely held. Instead the law 190 “is no exception in this regard,” as expressly set out in the plan on the holdings of the Province. The institution of Piazza Vittorio owns 9.27% ​​of Sat, corresponding to more than 900,000 shares: the stock exchange action Sat was exchanged these days even at 15 Euros, evaluation leading the pack weight of the Province over 13 million euro.

 

  Government. Once norm, however, must be considered in the affair: the Ministerial Decree 521 of 1997 provides that airport management company – as the SAT and how will Tuscany Airports – have participated for at least a fifth of the share capital, from public shareholders concerned (after the merger will be the ones most pisani those Florentine). For this the indispensability of maintaining the participation of the Province in the airport company “will be evaluated, even after consultation with the other public shareholders, regarding the necessity of the public share of 20% according to the composition of the share capital that will be a result of fusion, “says the provincial plan. In other words, there are two rules to come to an agreement. However, what emerges is that the province, there is an ongoing process of merger, take “final decisions – specifies the technical report attached to the floor – only at the end of the process itself and in compliance with special reference to the airport sector» .

 Priorities. In this context, the Province will ask other public bodies, about the sale of the shares of the new company Tuscany Airports, to have the “priority” and also to sell the whole package possessed “to contest the limit set for the public share ‘of 20 %. And any portion that is left in possession of the Province over the limit? “We will evaluate the processes of disposal reserved to public bodies.”

 

  The other subsidiaries. The other company for which the notice of address of 2013 provided for the continuation of the investment is the Province of Pisa Energy Agency (AEP) Srl, in-house company of the province and 14 municipalities. Regional Law 22/2015 intervened to regulate differently the matter and energy in the region will take over the company as AEP. This forces then the Province to change the previous policy and initiate the procedure for disposal of the investment. The list of assignments includes Banca Popolare Etica, Co.Svi.G., Fidi Toscana Spa, Interporto Toscano Vespucci Spa, Navicelli Pisa Spa, Polo Navacchio Spa, Tanning Technology Hub (Po.Te.Co.), Pont-Tech Pontedera & amp; Technology, Agricultural Society Funds Rustici Montefoscoli Srl, Toscana Energia Spa.