Dutch pension fund manager APG, a major shareholder in It铆nere Infraestructuras, is acquiring Globalvia鈥檚 40% stake in the Spanish toll-road concessionaire.

The financial details of Globalvia鈥檚 sale of its It铆nere stake have not been disclosed.    

Infrastructure management company It铆nere operates five toll-road concessions in Northern Spain. The company also holds the concession agreement for managing the operation, as well as maintenance and conservation of another toll road in the same region.

Spain-headquartered international transportation infrastructure firm Globalvia first acquired a stake in It铆nere in October 2018, and in 2019. Globalvia is owned by three pension funds: OPTrust of Canada, PGGM of the Netherlands and the UK鈥檚 Universities Superannuation Scheme.

Also in 2018,  acquired a controlling stake in It铆nere, representing 59.2% of the company鈥檚 equity, at a valuation of 鈧�1.3bn.

APG, the asset management arm of Dutch civil service scheme ABP, holds its 56% stake in It铆nere through various entities.

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Raz joined the 麻豆映画 editorial team in 2017 as news editor of 麻豆映画 Real Assets. He has over 15 years of experience as a financial journalist, having worked for Dow Jones Newswires and The Wall Street Journal where he worked as an equities reporter covering corporate news. He later covered consumer finance and moved on to become a leisure reporter and helped manage the London corporate news and small-cap desk.View full Profile

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