Salamanca buys Barcelona Marina

The UK-based investment and advisory group paid around £50m to purchase 'Port Vell' from Spanish developer Global Via.

Salamanca Capital Investments, the UK-based investment and advisory business of the Salamanca Group, has acquired Barcelona Marina from Spanish developer Global Via.

Post-transaction, which is thought to be worth roughly £50 million (€60 million; $78 million), Salamanca will commence redevelopment of the marina, known locally as Port Vell, in the autumn with a view to having it complete by mid-2011. Port Vell is currently home to some 400 boats and was awarded as a concession in 1991 for 30 years.

The sale is part of Global Via’s strategy of refocusing on becoming a transportation concessionaire specialising in roads and rail. The Spanish concessionaire, which is jointly owned by construction company FCC and savings bank La Caixa, owns six other port assets, split equally between commercial ports and leisure ports like Port Vell.

Global Via’s portfolio restructuring is part of a larger growth strategy led by chief executive and former co-head of Citi Infrastructure Investors Juan Béjar that also includes opening the company’s share capital to a third-party infrastructure investor.

Sister magazine Infrastructure Investor will feature an  exclusive interview with Juan Béjar in its September 2010 issue.