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InfraVia-backed Alkion to buy eight oil terminals

The French firm’s oil storage platform will boost its terminal ownership from one to nine after purchasing facilities in France, Spain and Portugal.

Alkion Terminals, a portfolio company of Paris-based InfraVia, has agreed to acquire full ownership of eight oil tank terminals across Europe.

The transaction will see Alkion buy 50 percent of LBC Sogestrol, the joint venture that previously ran the terminals, from oil storage firm LBC, as well as another 50 percent from chemical storage group Sogestrol. The deal’s value was not disclosed.

Alkion, which had only one terminal in its portfolio before the purchase, will now own four facilities in France, two in Spain, one in Portugal and one in the Netherlands. The company will be operating tanks with more than 1 million cubic metres in storage capacity.

The platform was created in 2016 as a partnership between InfraVia and Dutch energy investment firm Coloured Finches, shortly before the former closed its third infrastructure fund on €1 billion. In addition to Alkion, the vehicle has already invested in data centres, smart meters and the transportation sector.

The transaction comes just weeks after the firm made its first foray into airports after acquiring 50 percent of Italy-based Save Group, as part of a consortium with Deutsche Asset Management. The deal gave them ownership of the Venice Marco Polo airport concession alongside Save Group’s chief executive Enrico Marchi, the third, equal partner in the consortium.