Sonae Capital sells stake in Portuguese highway to Meridiam fund
Sonae Capital, a Portugal-based holding company engaged mainly in the tourism and hospitality sector, has recently revealed that it has reached an agreement with Meridiam Infrastructure Europe II SCA SICAR, a fund managed by Meridiam Infrastructure, for the sale of its 36% stake in Norscut, the concession company of the A24 motorway in Portugal.
Sonae Capital possessed the 36% stake in the A24 motorway consortium through its subsidiary Contacto - Concessoes. The total amount agreed in the transaction represents €42 million (US$47 million).
The A24 motorway links the Portuguese cities of Viseuand Chaves. The 155 kilometers link opens up the north of Portugal and provides ready access to Spain from the center of the country. Because of rugged terrain along the route, 6 years of construction and no fewer than 37 engineering structures were required, the longest being the VilaPouca de Aguiar viaduct with 1,350 meters.
The project was signed on December 1, 2000 and the concession has a duration of 30 years from 31 December 2000. The road was inaugurated in June 2007 and the total project investment was €726 million (US$827.1 million).
Earlier this month, we also reported that Meridiam Infrastructure acquired another 36% stake in the concessionaire from Eiffage. Following this transaction Meridiam will be the major stakeholder of the A24 motorway (72%). Norscut is also owned by BPCE (18%) and Egis (10%). The closing of this transaction is subject to usual legal, regulatory and financial approvals.
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April 11, 2016
Meridiam acquires stake in Portuguese road project
Eiffage has signed with Meridiam Infrastructure a disposal agreement regarding its 36% interest (shares and shareholders’ loans) in Norscut, the concession company of the A24 motorway in Portugal. . Read more -
March 07, 2016
Sacyr Concesiones sells stakes in Portuguese hospital concessions
Sacyr Concesiones has sold 98% of its company Hospitais Concesionados (HC) to the Aberdeen infrastructure fund. HC managed equity holding in the concessions of three hospitals in Portugal, 51% in two hospitals in Braga and Vila Franca de Xira, and 40% in other located in Isla Terceira in the Azores islands. Read more -
February 25, 2016
Yilport Holding acquires Tertir portfolio of 10 port terminals
Yilport Holding has closed the acquisition of 100% of the shares of the Portuguese port management company, Tertir. Read more -
January 07, 2016
Novo Banco and Mota sell majority stake in Ascendi
According to sourcers, Novo Banco and Mota-Engil will receive in January-binding proposals for the purchase of 60% of Ascendi. Read more -
August 06, 2013
Marubeni to acquire stake in Portuguese power assets from GDF SUEZ
Marubeni Corporation from Japan has announced that it has signed a strategic partnership with GDF SUEZ (GDFS) to acquire 50% of National Power International Holdings B.V. which holds GDFS's asset portfolio of thermal and renewable power assets in Portugal. Read more
