ITALY - Permira to sell Grandi Navi Veloci to private equity consortium

According to press reports, Permira is said to have reached an agreement with a consortium including buyout house Investitori Associati, Charme and De Agostini to sell its portfolio company Grandi Navi Veloci for over EUR 750m. Two years ago, Permira acquired ferry company Grandi Navi Veloci from founder Aldo Grimaldi. It was reported that it invested EUR 170m and that the total value of the deal including debt was around EUR 530m.