TD - Fair Market Value Capital Partners and TD Asset Management jointly acquire a minority interest in PSA Italy from PSA International | Benzinga
LONDON and TORONTO, March 18, 2024 /CNW/ - The FMV Industrial Infrastructure Fund I SCSp, advised by Fair Market Value Capital Partners ("FMV") and the TD Greystone Infrastructure Fund (Global Master) SCSp ("TDGIF"), advised by TD Asset Management Inc. ("TDAM"), today announced that they have jointly acquired a 28% interest in PSA Italy from PSA International ("PSA"), a leading global port operator.
PSA Italy operates three container terminals in the Port of Genoa and Port of Venice that are the premier gateway terminals serving the Northern Italian hinterland, handling a total of two million TEUs in 2023.
Through its investment in PSA Italy, FMV and TDGIF will continue to support PSA Italy's strategy to grow both within the local Italian market as well as the expansion of its hinterland into neighbouring markets including Switzerland and Southern Germany.
Frederic Michel-Verdier, Founding Partner & CEO of FMV said "This investment in PSA Italy is the culmination of a decade long professional relationship with PSA. We are delighted to be partnering yet again with PSA, a truly global leader in the ports and terminal business, on investing in this prime asset. We are impressed by the world-class operation run by PSA Italy's management and employees. PSA Italy is the leading portfolio of gateway terminals in Italy and is uniquely positioned to provide green logistics services to its highly industrious customer base in Northern Italy and beyond. We look forward to building on the strong relationship ...