Atlantia, an Italian company, acquired all shares held by Aero 1 Global & International in Groupe Eurotunnel (Getlink), which represents 15.49 percent in Getlink. Aero 1 Global & International is an investment vehicle fully controlled by funds managed by Goldman Sachs Infrastructure Partners.
Under the transaction, Atlantia will pay a total of EUR 1.05 billion for the acquisition corresponding to EUR 12.40 per Getlink share.
The transaction is not subject to any condition. The agreement provides usual anti-embarrassment clauses in case of additional purchase or sale of Getlink shares by Atlantia.
“The investment in Getlink represents an interesting financial opportunity for the group.
It is a very well managed business with strong track record and competent management. We are proud to become Getlink’s largest shareholder and we look forward to contribute to the success of the company and its management team”, Atlantia’s CEO, Giovanni
Castellucci, said.
Getlink operates three tunnels under the Channel and 2 terminals under a concession
agreement ending in 2086. Annually, Getlink transports 20 million passengers, 1.6 million trucks, 2.6 million cars, with a 25 percent of trade in goods between the United Kingdom and continental Europe and 1.7 billion tonnes-kilometres of freight. Getlink also operates private rail freight business (Europorte) and the future electrical interconnector between the UK and France (ElecLink).
In 2017, Getlink revenues totaled over EUR 1 billion and EBITDA reached EUR 526 million and is listed on Euronext Paris and Euronext London with a market capitalization of EUR 5.7 billion as of 26 February 2018.
Share on:
