Infracapital, the infrastructure equity investment arm of UK based M&G Plc and InfraVia Capital Partner, an independent French private equity firm, co-shareholders of Gruppo Investimenti Portuali (GIP), have agreed the sale of their 100% stake in the Terminal Darsena Toscana (TDT) to the Grimaldi Group.
Further to the above sale Mr. Giulio Schenone being the CEO of GIP and a minority shareholder of GIP will also exit as part of the transaction.
Infracapital and InfraVia bought an 80% stake in TDT, headquartered in Livorno, as part of the acquisition of GIP in February 2017 with a further 20% stake acquired in 2018.
“We are pleased to announce the sale of TDT which has grown from strength to strength under our joint ownership with InfraVia, and the central role played by Giulio Schenone. Together we worked with our partners to create value through improved operational performance and position TDT as a gateway to future expansion in Livorno,” says Stephen Nelson, managing director at Infracapital.
“We are proud to have supported TDT and Giulio Schenone with both capital and asset management capabilities throughout our ownership journey alongside Infracapital. TDT has achieved solid growth as well as resiliency through the recent economic cycle and demonstrated its role as the reference container terminal in the Port of Livorno,” says Olivier Laroche, partner at InfraVia.
