LONDON, Aug 6 Reuters Canadian public pension fund OMERS and DWS Group reached a deal to acquire Grandi Stazioni Retail, the two investors said on Tuesday.

The deal values Grandi Stazioni Retail, owned by Antin Infrastructure Partners, ICAMAP and Borletti Group, at between 1.2 and 1.3 billion euros, according to a person with knowledge of the deal.

The company manages the commercial and advertising leasing spaces in 14 railway stations in Italy. The stations receive over 800 million visitors a year, OMERS, or Ontario Municipal Employees Retirement System, and DWS said in a joint statement.

Were delighted to acquire Grandi Stazioni Retail, which marks our entry into Italy, said Alastair Hall, head of Europe at OMERS Infrastructure.

Asset manager DWS has multiple investments in rail transportation, including Akiem, Streem and Corelink, as well as in Italian infrastructure via its investments in Gruppo SAVE, Rimorchiatori Mediterranei and Ergéa, the companies said.

The deal is expected to be completed by the end of the year.

Reporting by Andres Gonzalez, editing by Tomasz Janowski

Source Reuters