Ferrovial, through its Toll Roads subsidiary, has reached an agreement to sell 89.2% of the Azores toll road, in Portugal, to infrastructure funds Horizon and RiverRock. 

The sale of the project is anticipated to generate EUR47 million (US$50 million) in capital gains for Ferrovial. Ferrovial will continue to offer technical services to the concession company for 2 years, with the possibility of an extension. This sale will allow Ferrovial to remove the project's gross debt of EUR284 million (US$305 million) owed to third parties. The transaction's completion is contingent upon approval from Portuguese authorities and lenders. 

The Euroscut Azores toll road is a significant infrastructure spanning over 93 km. It operates under a concession until 2036 and consists of 3 sections. The southern section links the airport to the south of the island, the northern section improves connectivity between the island's major cities, and the northeast section enhances communication among more remote towns in São Miguel's Nordeste Department.