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BREAKING: Consortium of GIP and ADIA to acquire a huge stake in VTG. Here's all you need to know

BREAKING: Consortium of GIP and ADIA to acquire a huge stake in VTG. Here's all you need to know
photo: Archive/BREAKING: Consortium of GIP and ADIA to acquire a huge stake in VTG. Here's all you need to know
06 / 07 / 2022

Morgan Stanley Infrastructure Partners (MSIP) and Joachim Herz Stiftung (JHS) announce that Deodoro Holding B.V., which is part of MSIP, and JHS have together reached an agreement to sell their interest in VTG Aktiengesellschaft (VTG) to a consortium of funds managed by Global Infrastructure Partners (GIP) and a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

The agreement provides for the sale of a 72.5% majority stake in VTG, comprised of an indirect stake held by Deodoro Holding B.V. (57.5%) and a direct stake (15.0%) held by JHS. OMERS will retain its 27.5% indirect stake in the company. The transaction values VTG at an Enterprise Value of approximately EUR 7 billion.

Headquartered in Hamburg, Germany, VTG is a leading international asset owner and rail logistics company with currently around 88,500 railcars, the biggest privately-owned fleet in Europe. The company’s fleet includes mostly tank wagons, intermodal wagons, standard freight wagons and sliding-wall wagons as well as about 5,000 tank containers. Besides hiring out rail freight wagons and tank containers, it also provides multimodal logistical services and integrated digital solutions.

“MSIP had identified VTG early on as a remarkably resilient transport asset with a stable track record and viewed it as having strong growth potential. Through multiple transformational measures and consistent portfolio alignment, MSIP believes it has prepared the company for the next stage of its growth story,” said Christoph Oppenauer, Managing Director at MSIP.

”We are pleased about the successful completion of the joint sale process. Since we first acquired a stake in VTG in 2016, our investment has developed very positively. I would like to thank everyone involved for the good cooperation”, said Ulrich Müller, Executive Board Member at JHS.

Completion of the transaction is subject to customary closing conditions. Goldman Sachs and Crédit Agricole Corporate & Investment Bank acted as financial advisors, while Sullivan & Cromwell and White & Case acted as legal advisors to MSIP. Lazard acted as financial advisor and Flick Gocke Schaumburg acted as legal advisor to JHS.

 

Source: VTG Press Releases

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