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iCON Infrastructure LLP has sold its 10% stake of CHL to Global Infrastructure Partners (GIP), the leading independent infrastructure investor.
CLH is the owner and operator of the Spanish refined oil pipeline network and the leading provider of refined oil storage in Spain. CLH owns a network of pipelines exceeding 4,000km in length, 38 refined oil storage facilities and 28 airport facilities in Spain.
After this transaction CHL is owned by GIP (10%) Ardian (15%), Repsol (10%), Omán Oil (10%), AMP Capital Investors (10%) and Cepsa (9.13%). Additionally there is a group of several shareholders with stakes of 5% each: BP, CLH bcIMC Investment Partnership, NCG, Deutsche Bank and Kutxabank.
The iCON team led the acquisition of 10% of CLH in December 2007 by Deutsche Bank and institutional investors and subsequently led and arranged the follow-on acquisition of a further 25% of CLH in June 2008 by a group of investors including Deutsche Bank, PGGM, AIMCo and PSP Investments.
iCON Infrastructure LLP is an independent investment firm with over €1 billion under management, investing in infrastructure assets in Europe and North America. The iCON team was established in 2004, and since then has been responsible for over €2.5 billion of infrastructure investments. At the end of March 2013, iCON closed its most recent fund with globally recognised pension funds, asset managers and insurance companies as investment partners.
GIP is an independent infrastructure fund manager that combines deep industry expertise with industrial best practice operational management. Their current fund, Global Infrastructure Partners II, invests in high quality infrastructure assets in the energy, transport and water/waste sectors.