A consortium of lenders has taken over Auto-Estradas do Douro Litoral (AEDL), a concession company that operates and maintains the A41, A43 and A32 toll roads (total length of 73km), located in Porto and surrounding areas of north-west Portugal.

AEDL was awarded the Douro Litoral concession in 2008 under the ownership of Brisa, a Portuguse highway management company. However, over the past five years, AEDL has been in default on its debt service obligations, due to a high cost structure and traffic levels that have been below original expectations.

The consortium of lenders that now owns the concessionaire is led by investment funds managed or advised by Strategic Value Partners, LLC and its affiliates and Cross Ocean Adviser LLP and its affiliates.