Clessidra Capital Partners, Italy’s largest private equity firm, is selling Societa Gasdotti Italia, an Italian gas company, to ABN AMRO’s Global Infrastructure Fund for €300 million ($389.8 million), including debt.
The deal is expected to close by early February 2007.
The Italian gas business operates an integrated network of high pressure natural gas pipelines in central and southern Italy.
Hans Meissner, chief executive of ABN AMRO Infrastructure Capital Management, said in a statement that he believed the business strengthened the firm’s existing portfolio. The fund already owns ESP Pipelines Group, the third largest independent gas transporter in the UK.
ABN AMRO Global Infrastructure Fund was created in 2005 to invest in global infrastructure assets. The fund has around €1 billion of capital commitments, €300 million of which has already been invested in infrastructure throughout Europe.