Adia to sell 50% stake in IFCO to Stonepeak

Adia to offload 50% stake in IFCO to Stonepeak: A subsidiary of the Abu Dhabi Investment Authority (Adia) inked an agreement to sell its approximately 50% stake in IFCO Group, a provider of reusable packaging solutions for fresh food, to Stonepeak, a US-based alt-investment firm focused on infrastructure and real assets, according to a press release. The transaction — for which the financial terms were not disclosed — is subject to customary regulatory approvals and is expected to close in 4Q 2025.

The details: Triton, a European mid-market investment firm and current shareholder in IFCO, will retain its stake in the company. Following the transaction, Triton and Stonepeak will share equal ownership and joint governance of IFCO.

We knew this was coming: Back in April, Bloomberg reported that ADIA was weighing a sale of its 50% stake in IFCO, with the potential transaction valued at over USD 2.3 bn.

About IFCO: IFCO, established in 1992, operates a global logistics network that supplies reusable containers for transporting fresh produce and other perishables. The company handles more than 2.5 bn shipments annually using over 400 mn containers in a closed-loop system between producers and retailers.

Advisors: Citi acted as financial advisor, while Kirkland & Ellis acted as counsel to Stonepeak. Adia and Triton were advised by Bank of America and Morgan Stanley, with counsel from Latham & Watkins. Freshfields is also serving as counsel to Adia.

Adia has been adjusting its investment portfolio: The fund is reportedly considering a sale of its controlling stake in Singapore-based Equis Development alongside Ontario Teachers’ Pension Plan (OTPP). In a separate move, ADIA recently exited a USD 1.5 bn position in Shanghai’s One Museum Place, selling to a buyer linked to China Post Life. The fund is also planning to exit its 19.99% stake in Australian power grid operator Transgrid, Financial Review reports.