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Prominent Argentinean Armenian businessman Eduardo Eurnekian has told Bloomberg that he is going to transfer the management of his businesses to his nephew, Martin Eurnekian.

Eurnekian’s Corporación América Airports SA, which owns concessions to operate 51 airports worldwide, is looking to sell as much as $750 million of shares between late January and February, spokeswoman Carolina Barros said.

Eduardo Eurnekian’s 39-year-old nephew will deal with the sales, since he will take helm at his uncle’s businesses.

“I am doing this IPO,” Eduardo Eurnekian said. “I will oversee this deal this month, and my career in airports will be complete.”

The sale of these shares will also mark the start of a new phase for Eurnekian.

“Though the 85-year-old entrepreneur -- who says he still swims and practices yoga every day -- won’t be retiring out of sight,” the respective article also reads, in particular. “The son of Armenian immigrants who fled the genocide in the early 20th century said that handing over day-to-day operations will free him up to explore new areas of business.”

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