In This Article:
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Grandi Stazioni Retail is well positioned to continue its growth strategy, and benefit from further investments in rail infrastructure across Italy, contributing to the decarbonization of the Italian transport sector
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This marks the final exit for Antin’s Fund II
PARIS & LONDON & NEW YORK & LUXEMBOURG, August 06, 2024--(BUSINESS WIRE)--Regulatory News:
Antin Infrastructure Partners (Paris:ANTIN), ICAMAP and Borletti Group announce today that they have signed an agreement to sell Grandi Stazioni Retail (GSR) to DWS and OMERS.
Headquartered in Rome, GSR operates the long-term leasehold providing exclusive rights to the commercial leasing and advertising spaces of the 14 largest Italian railway stations.
Antin, ICAMAP and Borletti Group acquired GSR from Ferrovie dello Stato Italiane and Eurostazioni in 2016. Under their ownership, GSR has been transformed to create a unique visitor experience. Substantial contributions have been made to enhance the public spaces around the historic city centres where its train stations are located.
GSR has also significantly invested across the network, managed and repositioned commercial spaces, introduced innovative, high-quality brands and services. The company has delivered meaningful growth through commercial innovation and improvement of the stations’ commercial areas and media advertising assets.
GSR will continue to benefit from the strong tailwinds as travellers prioritise rail’s sustainability benefits and given the planned investments in rail infrastructure across Italy.
Alberto Baldan, GSR CEO, stated: "We thank Antin, ICAMAP and Borletti Group for their significant support over the past years, which enabled us to implement our growth strategy. We are delighted to continue our growth journey with DWS and OMERS, who recognise our potential and will continue to invest, grow and build GSR."
Angelika Schöchlin, Antin Managing Partner, Johann Dumas, Antin Head of Luxembourg, Guillaume Poitrinal, ICAMAP Chairman and Co-Founder, Alexandre Aquien, ICAMAP Managing Director and Co-Founder, and Maurizio Borletti, Borletti Group Co-Founder commented on the transaction: "As the outgoing shareholders of GSR, we are very proud of our successful partnership which has led to the substantial strategic transformation of GSR. We are also grateful for the strong performance of GSR’s experienced management team and dedicated employees and are confident they will continue to be successful under their new owners."
The transaction is expected to close in Q4 2024. The terms of the transaction have not been disclosed.