Permira, the European buy-out firm, has acquired Grandi Navi Veloci, the Italian shipping group, for €522m ($628m.) Permira secured the backing of the controlling Grimaldi family who will retain a stake in Grandi through Vento, a new Permira-controlled vehicle.

Vento, which was advised by Euromobiliare Corporate Finance, an Italian advisory firm, will acquire 71.3% of Grandi for €2.90 per share, or €134m ($161m). The Grimaldi family were advised by BKN Corporate Finance. Mediobanca, the Milan-based investment bank advised on the structuring of the transaction.