STOA acquires stake in Sao Paulo metro line 6 PPP from Acciona
Acciona has completed the sale of a 12.3% stake in Concessionária Linha Universidade (CLU) to STOA, an investment fund specialized in infrastructure projects in emerging and developing economies. CLU is in charge of the São Paulo Metro Line 6 project in Brazil.
The São Paulo Metro Line 6 development requires an overall investment of BRL 15 billion (US$ 2.74 billion). STOA has committed an equity investment in CLU of BRL 317 million (US$ 57.96 million), which will be deployed during the construction period.
Acciona will be responsible for the construction of the project, which is scheduled to take five years. The construction of Line 6 was suspended in its early stages in 2016. Once completed, the infrastructure will be operated and maintained by CLU for an additional 19-year period.
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