Deals

F2i to buy Italian road stake for €65m

The Italian infrastructure fund manager has agreed to acquire a 7.4% interest in Autostrada Brescia Verona Vicenza Padova from the municipalities of Padua and Vicenza. The deal is scheduled to complete by the middle of next year.

-

Fondi Italiani per le Infrastrutture (F2i), the Milan-based infrastructure fund manager, has signed a preliminary contract for the €64.8 milion purchase of a 7.4 percent stake in an Italian motorway, the Autostrada Brescia Verona Vicenza Padova. The motorway comprises a 182-kilometre network in the north and north-east of Italy.

F2i will acquire the stake from the Municipality of Padua, to which it will pay €33.5 million, and the Municipality of Vicenza, which will receive €31.3 million. According to an F2i statement, the transaction is expected to complete by the end of June 2012.

F2i already has a 26 percent interest in Infracis, which it acquired in January 2009. Infracis is a holding company with investments in a number of Italian motorways, including the Autostrada Brescia Verona Vicenza Padova.

Last month, F2i sold a 22.7 percent stake in Interporto Rivalta Scrivia – described as ‘one of the leading dry ports in Italy’ – to Fagioli Finance, a subsidiary of transport group Fagioli.

Also last month, it successfully clinched a €2.1 billion loan from 12 banks, together with France’s AXA Private Equity, to consolidate its Italian gas distribution businesses.         Â