Abertis Acquires Majority Stake in France’s A-63 Corridor
Abertis, a global leader in infrastructure and mobility management, has strengthened its position in France with the acquisition of a majority stake in the A-63 toll road. The company, owned by ACS Group and Mundys, has reached an agreement to acquire a 51.2% stake in the asset, further consolidating its footprint in a key European market. The acquisition was completed through Abertis’ fully owned French subsidiary, HIT, in collaboration with French financial institutions Crédit Agricole Assurances and AXA IM Alts.
This strategic move enhances Abertis’ presence in France and reinforces its position as a leading operator of toll road infrastructure in Europe. The A-63, a vital corridor linking Spain and northern Europe, plays a crucial role in the transportation of goods and tourism traffic, making it a valuable addition to the company’s portfolio.
A-63: A Vital Corridor Between Spain and Northern Europe
The A-63 is a 104-kilometer toll motorway connecting Salles to Saint-Geours-de-Maremne in the southwest of France. This critical infrastructure serves as a key route for both freight and passenger transport between the Iberian Peninsula and the rest of Europe. It links Bordeaux, one of France’s largest cities with over one million inhabitants, to key tourist and commercial hubs such as Bayonne, Biarritz, Anglet, and Saint-Jean-de-Luz.
Since its completion in 2013, the A-63 has been a well-maintained and efficiently managed road, requiring minimal additional investment. The motorway features dual three-lane sections that facilitate smooth traffic flow and ease congestion in a region known for its high seasonal tourism demand. The asset’s importance is further underscored by its consistent revenue generation, with the road recording EUR 170 million in revenue and EUR 134 million in EBITDA in 2024. The concession for the road is set to run until 2051, providing Abertis with a long-term, stable income stream and opportunities for future expansion.
Enhancing Abertis’ Growth Strategy
Abertis’ acquisition of the A-63 is part of its broader strategy to strengthen its global infrastructure portfolio. The move aligns with the company’s focus on extending the lifespan of its concessions, ensuring stable revenue streams, and diversifying its market presence.
By acquiring a controlling stake in the A-63, Abertis enhances its financial stability and operational strength in France, a market where it already has a strong presence. The acquisition also forms part of Abertis’ cash flow replacement strategy, ensuring steady revenue from long-term assets. Additionally, the deal strengthens the company’s portfolio with mature assets that require minimal capital expenditure while offering significant growth potential.
“This acquisition is a testament to Abertis’ ability to grow and maintain a balanced portfolio across key markets,” said José Aljaro, CEO of Abertis. “We are very pleased to expand our footprint in a key market like France, allowing us to consolidate our position as a benchmark operator not only in the country but also in Europe, where we have years of experience managing infrastructure.”
Expanding Abertis’ Footprint in France
France is a strategic market for Abertis, which already owns the Sanef Group, a leading toll road operator in the country. Sanef manages nearly 1,800 kilometers of motorways in northern France and has been at the forefront of implementing innovative traffic and tolling solutions. Recently, Sanef introduced a pioneering barrier-free tolling system on the A-13 and A-14 motorways, which has significantly improved traffic flow and operational efficiency.
With the addition of the A-63, Abertis now expands its operations further into the southwest region of France, strengthening its nationwide presence. The acquisition aligns with Abertis’ long-term strategy of investing in high-quality assets in stable markets with well-established regulatory frameworks.
Financial Implications and Future Investments
Following the closing of the transaction, Abertis’ shareholders, ACS Group and Mundys, will inject EUR 400 million of equity into the company. This capital infusion will support the company’s growth strategy and reinforce its financial position, ensuring continued investment in infrastructure development and maintenance.
The acquisition of the A-63 follows a series of recent strategic expansions by Abertis, including acquisitions in Puerto Rico, Spain, and Chile. These investments demonstrate Abertis’ commitment to diversifying its portfolio across different regions and currencies, with a mix of euro and dollar-denominated assets.
The deal is subject to customary regulatory approvals, and both parties are working to finalize the transaction as soon as possible. Once completed, the acquisition will reinforce Abertis’ leadership in the global transport infrastructure sector, providing long-term value for stakeholders and ensuring continued excellence in road management and mobility solutions.
Commitment to Sustainable and Efficient Infrastructure
Abertis is committed to sustainability and technological advancements in infrastructure management. The company continues to invest in digital transformation, smart mobility solutions, and environmentally friendly initiatives to enhance the efficiency and sustainability of its toll road operations.
By incorporating innovative technologies and data-driven management practices, Abertis aims to improve traffic flow, reduce congestion, and minimize the environmental impact of its road networks. The A-63 acquisition presents an opportunity to introduce advanced traffic management solutions, optimizing the overall driving experience for users.
