Great Stations for sale: interest from the Middle East
Italy begins the process of selling Grandi Stazioni retail, the company that owns the 14 major railway stations in 11 Italian cities. Corriere della Sera writes this, according to which “the French private equity Antin, which has 65% of the capital, and the two minority shareholders, the Icamap fund (23%) and Maurizio Borletti's Borletti Group (11%), have appointed UBS to manage the reorganization, through the London team of bankers.”
Grandi Stazioni has a concession for around 850 shops in the shopping arcades of railway yards visited by 750 million people a year until 2045: Milan Central, Turin Porta Nuova, Venice Santa Lucia and Mestre, Verona Porta Nuova, Genoa Piazza Principe and Brignole, Bologna Central, Florence Santa Maria Novella, Rome Tiburtina and Termini, Naples Central, Bari and Palermo.
Again according to the Corriere della Sera, “Middle Eastern sovereign funds are expected: from Adia and Mubadala (Arab Emirates) to Qia (Qatar). But, according to sources close to the operation, investment vehicles from European insurance companies such as Predica or funds that invest in infrastructure and real estate such as the French Altarea which in 2019 won the tender for Cento Stazioni or the Swedes Eqt could also appear. “.
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