MILAN (Reuters) - 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.
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.
Reporting by Stephen Jewkes; editing by Agnieszka Flak