JOHANNESBURG, Sept 21 (Reuters) - South Africa's Public Investment Corporation fund has bought a 20 percent stake in state-owned airport company ACSA for 1.675 billion rand ($262.9 million), the state-owned fund manager said on Wednesday.
PIC bought the stake from the company that runs Rome's airport -- owned by Italy's Gemini and Australia's Macquarie Airports Group -- on behalf of South Africa's government employee pension fund, which it administers.
ACSA, Africa's biggest airport company, had been slated as a privatisation candidate before the government shifted its focus from selling off state assets to turning them around to help motor economic growth.
State-owned PIC is the country's biggest fund manager.
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