Corsair Infrastructure Partners – Sale of shares in DP World

Corsair Infrastructure Partners-managed Gateway Infrastructure Investments has agreed to sell all its shares in DP World Australia. The New York-based manager reached an agreement to sell part of Gateway’s stake in the Australian port manager to co-shareholder DP World. It has also sold remaining shares to some of its own co-investors. Corsair will continue to manage this stake. The deal gives DP World Australia an enterprise value of AUD 1.4bn (EUR 880m). The closing is subject to regulatory approvals and expected to take place by the end of 1Q19.