Genoa-based Spinelli Group, a company controlled by the local Spinelli family along with the iCON Infrastructure fund, has bought 80% of Terminal Rinfuse Genova from Italiana Coke.
This is the first deal closed by Spinelli since the UK-based fund became a partner in 2015 with a 45% stake in the group active in the field of container and roro handling, road haulage and logistics.
Terminal Rinfuse Genova is a company operating the dry bulk terminal at the port of Genoa, which covers a total area of 161,000 sq m and features three quays with drafts of up to 11.5m, with total berthing length of approximately 1,200 m and two covered warehouses accounting for a total area of 15,000 sq m.
Spinelli has already agreed to sell a stake of the company to MSC and the terminal will be split in two and converted to roro and container handling, thus enabling both the partners to enlarge their respective Calata Bettolo terminal and Genoa Port Terminal in the port. New investments in excess of $20m will be required from the partners.