Toronto-Dominion Bank's asset-management arm and investment firm Fair Market Value Capital Partners have jointly bought a minority stake in PSA Italy, the operator of three container terminals in the Port of Genoa and Port of Venice that serve northern Italy.
TD Asset Management and FMV Industrial Infrastructure Fund I, which is advised by Fair Market Value Capital Partners, together bought a 28% interest in the port operator from PSA International.
The deal received unconditional clearance from the Italian government. The terms of the acquisition weren't disclosed.
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank's segments include Canadian Personal and Commercial Banking, which provides financial products and services to personal, small business and commercial customers, and includes TD Auto Finance Canada; U.S. Retail segment, which is comprised of personal and business banking in the United States, operating under the brand TD Bank; Wealth Management and Insurance segment includes the Canadian wealth business which provides investment products and services to institutional and retail investors, and the insurance business which provides property and casualty insurance, as well as life and health insurance products to customers across Canada, and Wholesale Banking segment provides a range of capital markets, investment banking, and corporate banking products and services, including underwriting and distribution of new debt and equity issues, providing advice on strategic acquisitions and divestitures.
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