MegaProject 721: Ferrovial sells stakes in two Portuguese toll roads to Dutch fund manager DIF for 159 million euros
Related M&A Transactions
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Ferrovial has reached an agreement through its toll road subsidiary Cintra with Dutch infrastructure fund manager DIF to sell a 51% stake into Norte Litoral and 49% stake into Via do Infante toll roads, for total cash proceeds of €159 million (US$176.5).
As a result of this transaction, Ferrovial will retain a stake of 49% in Norte Litoral and 48% in Via do Infante, keeping its position as the relevant industrial partner for both assets.
The closing of the transaction is expected once all the necessary approvals from Portuguese authorities, financing institutions and competition authorities are received.
The Norte Litoral Highway runs along the northwest coast of Portugal, from Oporto to Caminha, near the Spanish border, with a branch towards the interior between Viana do Castelo and Ponte da Lima. The highway is 119 km long, of which 72 km are refurbished and 47 km new construction.
The Via do Infante highway is 129.8 km in length, of which 95 km are refurbished and 35 km on new construction. The highway connects Lagos with Vila Real de Santo Antonio, vía the Portuguese towns of Portimâo, Loulé, Fara and Tavira.