VINCI signs an agreement to acquire a motorway concessionaire in Brazil
· Acquisition of 55 of Entrevias, which holds the concession for two bonged motorway sections in São Paulo State until 2047
· A concession to operate and maintain 570 km of motorway including widening of a 210 km section
· VINCI Concessions continues to develop its presence in Latin America and takes positions in Brazil’s most populated state.
VINCI roadways, a VINCI Concessions attachment, announces hand of an agreement to acquire from the Patria fund a 55 maturity stake in the Entrevias motorway concession, which crosses São Paulo State from north to south.
The concession, with a remaining term of 25 times, includes two sections with a accretive length of 570 km that recorded around 30 million deals in 2021. The concession company is remunerated by collection of sacrifices( business threat concession). The contract covers
· Operation and conservation of a 299 km section in the north of São Paulo;
· Operation and conservation of a 271 km section in the south of São Paulo, together with workshop, formerly started and listed for completion by end 2025, to widen the section from 2×1 to 2×2 lanes over 210 km.
fiscal check to acquire the Patria’s stake is anticipated in 2023 after waiving of conditions precedent.
The new design also strengthens VINCI Concessions’ positioning in Brazil, strongest frugality and most populated country in Latin America, after the accession by VINCI airfields of Salvador de Bahia Airport in 2017 and of seven Amazonian airfields in 2021.
This operation allows VINCI roadways, formerly operating in Colombia and Peru, to continue developing its presence in Latin America by taking positions in São Paulo, Brazil’s most populated state, which generates over a third of the country’s gross domestic product.
The VINCI Group is also present in Brazil through its energy business Cobra IS is long active in the country, whereas VINCI powers has been active in energy, assiduity and structure services in Brazil since 2015.
VINCI is a global player in concessions, energy and construction businesses, employing further than,000 people in nearly 120 countries. We design, finance, make and operate structure and installations that help ameliorate diurnal life and mobility for all. Because we believe in all- round performance, we’re committed to operating in an environmentally, socially responsible and ethical manner. And because our systems are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business conditioning. Grounded on that approach, VINCI’s ambition is to produce long- term value for its guests, shareholders, workers, mates and society in general.