Ardian to Buy Stake in Spanish Oil Infrastructure Firm

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Ardian to Buy Stake in Spanish Oil Infrastructure Firm

Ardian, former AXA Private Equity, is to acquire an additional 5 % equity stake in the CLH Group, the Spanish oil products and storage company, from Compañía Española de Petróleos (CEPSA).

The closing of the transaction is expected before the end of this year.

With this investment, Ardian will become the largest shareholder in the company, increasing its shareholding to 15 %. Ardian became a shareholder in CLH in 2011 with the acquisition of a 10 % stake.

CLH is the owner and operator of the largest Spanish oil products and storage network. It has more than 4,000 km of pipeline and seven million cubic metres of storage capacity, including strategic national reserves.

Ardian raised €1.75 billion ($2.3 billion) for investments in European infrastructure in March 2013 through its  Axa Infrastructure Fund III.The fund looks for deals in the gas and electricity grid and renewable energy sectors, as well as road and rail assets, but will steer clear of ports because they are too cyclical. It has no specific regional preference, with a focus on asset quality rather than sub-sector or country.

Mathias Burghardt, head of infrastructure at Ardian, stated:

The investments recently completed by our team demonstrate the quality of the current European deal pipeline in infrastructure. We will continue to focus on core infrastructure assets and securing proprietary deal flow through our extensive European network. This additional investment in CLH is further evidence of Ardian's long-term commitment to supporting quality and successful companies.

List of country news

Country news

  • February 25, 2014

    Masdar sues Spain for cutting renewables subsidies

    Abu Dhabi investment company, Masdar, has sued the Spanish government. The company helped build three solar power plants in Spain taking advantage of the existing subsidies. But Spain has now cut incentives for renewable energy. Read more
  • March 10, 2014

    Sacyr sells stake in hospital concessions to Lloyds fund

    Sacyr has sold a 49 % stake in two Spanish hospital concessions, the Hospital Infanta Cristina and the Hospital del Henares, to Lloyds Bank European Infrastructure Partners L.P. (LBEIP). Read more
  • March 12, 2014

    JP Morgan denies selling Noatum ports business

    According to sources, JP Morgan Asset Management said that rumors regarding the potential sale of the Spain-based terminal operator Noatum ports are not true. Read more
  • March 14, 2014

    Globalvia closes the acquisition of the Seville Metro project

    Globalvia, one of the world's leading companies in the management of infrastructure assets, closed on 11 March 2014 the acquisition of the company that manages and operates the Seville (Spain) metro for a total consideration of €177 million (US$246 million). Read more
  • March 17, 2014

    Korean consortium announces acquisition of Algeciras port terminal

    Hanjin Shipping, South Korea's biggest shipping company, Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.