Abertis acquires stake in Catalonian tunnels

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Abertis acquires stake in Catalonian tunnels

Spanish infrastructure firm Abertis has acquired an additional 15.01% stake in Túnels de Barcelona i Cadí.

After the deal, Abertis owns a 50.01% stake in Túnels Barcelona i Cadi. The firm is also owned by Ardian. The transaction is subject to the approval of the Catalonia Government.

The acquisition, which amounts to €34 million (US$37.5 million), involves two concessions totaling 41 kilometers, including 10 kilometers of tunnels in Catalonia, Spain.

  • Cadí Tunnel, the main point of connection between the central area of Catalonia and the Pyrenees
  • Vallvidrera tunnels, the connection between Barcelona and inland cities.

Last May we reported that Abertis reported an improvement in all its key indicators in the first quarter, with growth in net profit (7%), EBITDA (6.4%) and revenues (6%).

Traffic grew 1.3% in Abertis' toll road network in the first quarter. Especially noteworthy was the increase in traffic in Spain, which grew 6% in the period, the largest increase since 2007. Internationally, the most notable increases were posted in Chile (+6.5%) and France (+1.6%), which are outperforming the company's forecasts at the start of the year.

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