The Marguerite Fund, based in Luxembourg, recently announced that it has acquired a 10 percent stake in Fraport Greece, the owner and operator of 14 regional airports in Greece. The stake was sold by Slentel, a company of the Copelouzos Group, which remains a minority shareholder in the company alongside Fraport AG, which has a 73.4 percent stake. Following the transaction, Slentel’s stake in Fraport Greece is 13.6 percent.
This transaction, closed in December 2017, marks the 20th and final investment of the Marguerite Fund, which has invested over 700 million euros in infrastructure-intensive projects across the EU and pre-accession countries.
According to the Marguerite Fund, Fraport Greece represents an attractive opportunity in a portfolio of airports that will invest approximately 400 million euros to improve and expand the airports’ infrastructure by 2021.
“We look forward to working with Fraport, the Copelouzos Group and the other stakeholders for the development of Fraport Greece,” Merigó said.
The first fund managed by Marguerite, the 2020 European Fund for Energy, Climate Change and Infrastructure, was established in 2010 with the backing of six major European public financial institutions and the European Commission, with 710 million euros of commitments, to make capital-intensive infrastructure investments within the EU. The European Investment Bank has committed 200 million euros, of which 100 million euros are guaranteed by the European Fund for Strategic Investments (EFSI), alongside 100 million euros each from five National Promotional Banks.
Marguerite is now fully invested and has accomplished its initial targets, having committed over 700 million euros equity and quasi-equity capital to 20 investments in 13 member states, across all target sectors, acting as a catalyst for projects with an aggregate size of over 10 billion euros.