- Cintra will hold a management contract of Norte Litoral and Via do Infante
- The transaction is part of Company’s asset rotation strategy for mature concessions
- The Company continues to hold its stake in the Azores Highway
Ferrovial has reached an agreement, through its toll-road subsidiary Cintra, to sell its 49% stake in the Norte Litoral availability-based PPP road and its 48% stake in the Via do Infante availability-based PPP road to DIF Infrastructure VI, a fund managed by DIF Capital Partners, for a total consideration of 171 million euros. As part of the agreement Cintra will hold a management contract for both assets. Closing of the transaction is expected once all the necessary approvals have been received from Portuguese authorities and financing institutions. The company will continue to hold its stake in the Azores Highway.
In 2016, DIF Infraestructure IV, another fund managed by DIF Capital Partners, took a 51% stake in Norte Litoral and 49% stake in Via do Infante availability-based PPP roads located in Porto and Algarve (Portugal). These concessions were awarded to Cintra in years 2001 and 2000, respectively. Norte Litoral concessional period will expire in 2031, while Via do Infante concession will run until 2030.
Cintra is one of the world’s leading private sector developers of transportation infrastructure in terms of number of projects and volume of investment. It currently manages approximately 1,474 kilometers of toll roads in 25 concessions in Canada, the US, Europe, Australia and Colombia. Cintra holds a stake of 43.23%. in the 407 ETR, in Ontario, Canada.