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Erg: 1 billion partnership between San Quirico and the Ifm fund

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In Rimini it opens

(ANSA) – MILAN, JUN 16 – The San Quirico holding, which belongs to the Garrone and Mondini families, and the Australian fund manager Ifm Investors have signed an agreement for the creation of a new holding that will control 62.5% of Erg with the aim of developing the activities of ques’utima on renewable energy. This is stated in a note indicating that Ifm will acquire an initial 35% stake in the new holding by investing 1 billion euros, with the possibility of increasing its stake by a further 500 million.

“We are proud to announce the long-term partnership with Ifm”, said the president of San Quirico and Erg Edoardo Garrone, underlining that the Australian Fund is “one of the most renowned international managers that shares our ethical principles and our vision of create sustainable value by fighting climate change “. The Australians, according to Garrone, will bring a “broad international footprint that goes well beyond the borders of Europe” as well as “strong long-term financial support to allow ERG to pursue more sustained, broader, faster and more diversified growth”. According to Erg CEO Paolo Merli “the mentality, experience and network of our new Ifm shareholder can represent an important opportunity for Erg at a time when we need to raise the bar even higher than before” . The Italian group, according to the global head of the infrastructure division of the Fund Kyle Mangini, is “a significant operator in the renewable energy sector with a pioneering role in the energy transition and with a strong growth potential on a global scale”. Ifm is controlled by 19 pension funds and manages assets for 122 billion euros as of March 31st. In Italy, through the subsidiary Aleatica, it has already invested in the Brebemi motorway with a share of approximately 76%. (HANDLE).

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Source: Ansa

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