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InfraVia, Infracapital snap up Italian container terminal

While Infracapital has previously invested in British ports, the deal represents InfraVia’s first move in the sector.

French fund manager InfraVia and British investment firm Infracapital have agreed their first ever joint investment with a deal to buy Italian container terminal operator Gruppo Investimenti Portuali.

The deal will see the two investors take equal stakes in GIP, with the group’s founder Giulio Schenone remaining a minority shareholder and chief executive.
Infracapital and InfraVia had not responded to requests regarding the purchase price by press time.

GIP has interests in four terminals in northern and central Italy, including in Genoa and Venice, the latter of which also counts global container port operator PSA as shareholder and serves as a gateway between Italy and the eastern Mediterranean, Middle Eastern and far eastern markets.

“GIP is one of the leading container port operators in northern Italy and thanks to its state-of-the-art facilities and the partnership with the leading global container port operator, PSA, we believe GIP is ideally positioned to capture the further growth of container trade in the region,” InfraVia founder Vincent Levita said.

The investment in GIP marks InfraVia’s first in the port sector. For Infracapital, however, the deal marks a return since it exited its combined 33.33 percent stake with Goldman Sachs in Associated British Ports to Canada Pension Plan Investment Board and Hermes Infrastructure in 2015 for £1.6 billion ($2 billion; €1.9 billion).