Ardian to pay 850 million euros for partnership with Gavio
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. ■