DIF acquires shadow toll road in Spain

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DIF acquires shadow toll road in Spain

DIF Infrastructure IV has announced that it has acquired from OHL Concesiones 45% of the shares in Autovía de Aragon, S.A, a shadow toll road linking the Madrid city center with Barajas airport.

In addition to DIF’s share, OHL will maintain its position as a significant industrial partner in Autovia de Aragon. TYPSA, a leading consulting engineering firm, will retain its 5% share in the company.

Autovia de Aragon is one of the main road accesses to Madrid and one of the alternatives that links the city center and the airport. The road is located in one of the most urbanized and industrial corridors linking Madrid’s urban center with Guadalajara. The 19-year concession started in 2007, (with end date December 2026) and operates the first section of the A-2 Motorway, which is the main connection between the cities of Madrid and Barcelona.

Autovia de Aragon is DIF’s first road investment in Spain following the acquisition of 6 PPP projects in other sectors. Long term financing is in place and provided by EIB, FMSW and ICO (Instituto de Crédito Oficial).

Fernando Moreno, DIF’s head of Spain, said:

“DIF is very pleased to establish this long term partnership with OHL and invest in this high quality asset that will provide a strong return and steady cash yield for DIF’s investors”.

DIF was advised by Uría & Menéndez (legal), Garrigues (tax), PWC (model/financial) and Arup (traffic/technical).

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