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Ardian to pay 850 million euros for partnership with Gavio

Staff Writer |
Investment fund Ardian has agreed to pay 850 million euros ($985 million) to create a strategic partnership with Italy’s Gavio group to support the growth of motorway infrastructure companies ASTM-SIAS.

Under the deal Ardian will buy a 40 percent stake in Nuova Argo Finanziaria, the vehicle which owns 58.6 percent of ASTM which in turn owns 63.4 percent of SIAS.

Nuova Argo Finanziaria is owned by Aurelia, a holding company controlled by Gavio.

The strategic partnership is designed to boost the role of Gavio as a global infrastructure player.

Aurelia and Ardian said in a joint statement Aurelia will receive up to 95 million euros of the sum paid by Ardian under certain conditions by way of an earn-out.

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