Natixis News

Mirova’s General Infrastructure Team acquires a 59.4% stake in Veneta Sanitaria Finanza di Progetto S.p.A.

Mirova, an affiliate of Natixis Investment Managers dedicated to responsible investing, announces that its Core Infrastructure Fund II (‘CIF II’), through its wholly-owned company Core Infrastructure II S.a.r.l, has purchased from Astaldi and Astaldi Concessioni a 59.4% shareholding in Veneta Sanitaria Finanza di Progetto S.p.A (‘VSFP’). VSFP holds a concession agreement with the ULSS 3 Serenissima for the design, construction, operation and maintenance of ‘Dell’Angelo’ Mestre Hospital.

The concession agreement was signed in 2002 and construction ended in 2008. Operation will last until 2032 after a 30-year contract. During this period, VSFP provides non-sanitary/clinical and commercial services. Dell’Angelo Mestre Hospital has a capacity of 350 rooms and 680 beds.

This is the second transaction closed by Mirova in Italy after Aton per il Progetto S.r.l, a district heating network and cogeneration plant in Northern Italy. It follows several other European transactions such as the acquisition of a 7.65% equity interest in the Metro de Malaga project (Spain), a 42.5% stake in Oslofjord Varme AS, a Norwegian district company, and a 27.5% stake in THD 59-62, an optical fiber network in the Nord-Pas-de-Calais Region (France).

Gwenola Chambon, Mirova’s Head of General Infrastructure Funds and CIF II Principal said: ‘Through this new Italian investment, we demonstrate our ability to deploy capital in high quality assets matching our long-term investment strategy.’ Christelle Destors-Lepoutre and Pierre-Gilles Diat who originated and executed the transaction added: ‘This investment fits perfectly with CIF II diversification strategy across European countries and strengthen our position on the Italian market with key industrial partners. We now look forward to working with our consortium partners, including Astaldi and Astaldi Concessioni, Gemmo, Consta, ASE and Studio Altieri to facilitate the continued delivery of high-quality service.

To date, CIF II has invested in European PPP and infrastructure concessions, spanning from transportation to broadband networks.

Mirova was advised by EY as M&A and financial advisor, Dentons as legal advisor, Protos as technical advisor and Marsh as insurance advisor on this transaction.

Note to the reader
Core Infrastructure Fund II SCS has not been authorised by any supervisory authority. Investments in infrastructure portfolios are reserved for specific investors, as defined by their respective regulatory documentation. They are mainly subject to loss of capital risk. This Presentation in no way constitutes an offer or a sales promotion to a person regarding whom it would be illegal to make such an offer.
The Strategies’ investment objective, strategy and main risks are described in their regulatory documents. Their fees, charges and performances are also described in these documents.

For further reading
Mirova wins ‘the best brownfield infrastructure strategy’ award at SIATI 2018
Equity infrastructure: decorrelated, long-term income

MIROVA
Affiliate of Natixis Investment Managers
Mirova is a subsidiary of Natixis Investment Managers International.
French Public Limited liability company with board of Directors.
Share Capital: €8 322 490
Regulated by the Autorité des Marchés Financiers (AMF) under n° GP 02014.
RCS Paris n° 394 648 216
59 avenue Pierre Mendès France
www.mirova.com

Natixis Investment Managers International
French Public Limited liability company with board of Directors (Société Anonyme)
Share capital : €51 371 060,28
RCS Paris : 329 450 738
Regulated by the Autorité des Marchés Financiers (AMF) under no. GP 90-009.
43 avenue Pierre Mendès France
75013 Paris
www.im.natixis.com

Natixis Investment Managers
RCS Paris 453 952 681
Share Capital: €178 251 690
43 avenue Pierre Mendès France
75013 Paris
www.im.natixis.com

This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.

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