Infrastructure fund manager CVC DIF has sold two assets in Spain and is close to completing a third divestment in the country in what it describes as a “difficult exit environment”.
The firm has sold Boluda Maritime Terminals, which it partly acquired in 2022, and Mallorca Fire Station, and has signed a sale-and-purchase agreement to exit TTI Algeciras, a Spanish container port hub in which it acquired a stake in 2020.
Gijs Voskuyl, head of CVC DIF, said: “These successful exits are a testament to the strength and foresight of the investment teams, as well as our dedicated divestment team. In today’s market, achieving liquidity requires more than just waiting for favourable conditions – it demands preparation, creativity and deep market connectivity.”
Andrew Freeman, partner and head of divestments at CVC DIF, said: “Our core focus is on delivering meaningful outcomes for our investors – that means finding and executing exit strategies that others might overlook, and this is especially important when the broader market is subdued.”
He added that each of the three businesses “have developed well” under CVC DIF’s ownership.
According to CVC DIF, Boluda Maritime Terminals, which owns eight operational terminals in mainland Spain and the Canary Islands, has transformed its commercial strategy, leading to “significant growth”.
Mallorca Fire Station, an availability-based public-private-partnership project on the island of Mallorca, “has embraced significant costs efficiencies and operational improvements”, the firm said. TTIA, a port terminal located at the Strait of Gibraltar in in Spain, has undergone multiple upgrades “to increase volumes and improve the maturity of the terminal”.
The three exits follow other recent sales by CVC DIF, including a 1GW-plus portfolio of Australian renewable energy projects and a portfolio of Uruguayan wind-farm projects.
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