Globalvia closes the acquisition of the Seville Metro project

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Globalvia closes the acquisition of the Seville Metro project

Globalvia, one of the world's leading companies in the management of infrastructure assets, closed on 11 March 2014 the acquisition of the company that manages and operates the Seville (Spain) metro for a total consideration of €177 million (US$246 million).

The company has taken the stake from ACS (through its affiliate Iridium), Sacyr, Gea 21 and CAF which had 34.01%, 32.77%, 11.15% and 10.30% stakes, respectively. The total stake sold is  88.23%. The grantor, Agencia de Obra Pública de la Junta de Andalucía, will hold its 11.77% stake.

The Seville metro is 18 kilometres long with 21 stations in operation. It crosses the municipalities of Mairena del Aljarafe, San Juan de Aznalfarache, Seville and Dos Hermanas. It went into operation in April 2009 and carried 14 million passengers in 2013.

Globalvia's portfolio boasts a high degree of product diversify and includes a significant number of assets, over 90% of which are located in Spain. The company plans to become one of the leaders in transport infrastructures management in general and railway infrastructures in particular. The portfolio includes among others tramways in Barcelona, Parla (Madrid), the Sanchinarro (Madrid) light metro, the Barajas metro (line 8 of the Madrid metro) and Transportes Ferroviarios de Madrid (line 9B of the Madrid metro).

Globalvia is owned by two partners, each with a 50% share: Fomento de Construcciones y Contratas (FCC) andBankia. At the end of 2011 Globalvia successfully closed its fundraising, which enables the company to grow its current portfolio of PPP assets. The funding was provided by pension funds PPGM (Netherlands) and OPTrust(Canada), with a €400 million initial commitment that can be expanded to €750 million.

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