Investment funds managed and advised by DWS Group and Omers Infrastructure have reached an agreement to acquire 100% of Grandi Stazioni Retail (GSR) from Antin Infrastructure Partners, ICAMAP and Borletti Group, which acquired the company in 2016.
GSR is an Italian-based company which has the exclusive rights until 2047 to manage and exploit commercial spaces and media activities in 14 of the largest railway stations in Italy (such as Milano Centrale, Roma Termini, Torino Porta Nuova and Napoli Centrale), which collectively receive over 800 million visits a year. The stations include over 800 commercial units, totalling around 190,000 sqm of leasable space, and over 1,800 media assets.
The investment becomes Omers first-ever in Italy, its 19th in Europe, and 14th transportation asset globally. DWS has a strong track record in rail transportation, including its investments in Akiem, Streem and Corelink, as well as in Italian infrastructure via its investments in Gruppo SAVE, Rimorchiatori Mediterranei and Ergéa.
Mediobanca and UniCredit, the latter with a team composed of Andrea Petruzzello, Riccardo Penati, Enrico Filippo Colzani, Francesco Riva and Eleonora Gioia acted as M&A financial advisors to DWS and Omers, with UniCredit also acting as financing provider with a team represented by Riccardo Amoni, Carlo Fontana, Angelo Silvio Colombo, Ilaria Pezzana and Marzia Mello.
The transaction is expected to be completed by the end of the year, subject to certain customary closing conditions and regulatory approvals.