Ascendi Group, SGPS, SA and Ardian have signed an agreement to establish a partnership to own and operate part of the motorway network managed by Ascendi in Portugal.

Ascendi and Ardian will own 50% each of a newly incorporated company which will own the stakes of Ascendi (between 66% and 80%) in a portfolio composed by five motorways covering a total distance of about 500 km, primary located in the north of Portugal and the Lisbon region. The five road concessions are the following::

• Auto-Estradas da Grande Lisboa
• Auto-Estradas do Grande Porto
• Auto-Estradas do Norte
• Auto-Estradas da Costa de Prata
• Auto-Estradas das Beiras Litoral e Alta

Ardian will invest €300 million (US$328.1 million) in the partnership. The enforcement of the latter depends upon obtaining several authorizations from the grantor and financing entities.

Mathias Burgharadt, Member of the Executive Committee and Head of Infrastructure at Ardia, stated:

"This joint deal is a great example of our strategy to partner with a range of specialist infrastructure operators throughout Europe over the long-term, strengthening our network in the process. This transaction will pave the way for Ardian to explore further the Portuguese infrastructure landscape."