- The deal provides the company with €80 million in capital gains.
- Both concessions are for 30 years.
- The sale is in line with the company’s asset rotation strategy.
Ferrovial has sold its stake in the Greek toll roads Central Greece and Ionian Roads to GEK Terna for €85 million. The buyer, Greece’s largest infrastructure operator, now owns 100% of both toll roads, having acquired Ferrovial’s respective 33.34% and 21.41% stakes.
The deal, which is in line with the company’s asset rotation strategy, provides €80 million in capital gains. The Central Greece concession runs from 2008 to 2038, and the Ionian Roads concession from 2007 to 2037; Ferrovial carried both assets by the equity method.
Cintra, a subsidiary of Ferrovial, is one of the world’s leading private sector developers of transportation infrastructure, in terms of the number of projects and the volume of investment. It currently manages over 1,468 kilometers of toll roads in 24 concessions in Canada, the US, Europe, Australia and Colombia. It is also the largest shareholder of the concessionaire for 407 ETR, in Ontario, Canada, with a 43.23% stake.