Mundys, backed by Blackstone, is increasing its stake in Getlink, as the infrastructure investor moves closer to the 29.9% voting rights threshold in the Channel Tunnel operator.

The firm has agreed to raise its stake to 19% and is seeking regulatory approval to acquire a further 6%, which would bring its total holding to around 25% and position it just below the level that would trigger a mandatory takeover under French rules.

The move places Mundys close to Eiffage, which holds approximately 28% of Getlink, intensifying competition among major shareholders.

Based on Getlink’s market valuation of nearly €10bn, equivalent to approximately $10.8bn, the additional 9.5% stake acquired by Mundys is valued at around €950m, or approximately $1bn.

The investment reflects Mundys’ strategy to increase exposure to infrastructure assets with stable and predictable returns, particularly in a period of heightened market volatility.

The firm is betting on continued growth in Channel Tunnel traffic, supported by new competition on the Paris–London route and broader demand for cross-border rail services.

Despite the increased stake, Mundys has indicated it does not intend to take control of the company or seek additional board representation.

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