VINCI Highways has announced signature of an agreement to acquire from the Patria fund a 55% majority stake in the Entrevias motorway concession, which crosses São Paulo State from north to south. The concession, with a remaining term of 25 years, includes two sections with a cumulative length of 570 km that recorded around 30 million transactions in 2021. The concession company is remunerated by collection of tolls (traffic risk concession). The contract covers: · Operation and maintenance of a 299 km section in the north of São Paulo; · Operation and maintenance of a 271 km section in the south of São Paulo, together with works, already started and scheduled for completion by end 2025, to widen the section from 2x1 to 2x2 lanes over 210 km. Financial closure to acquire the Patria’s stake is expected in 2023 after waiving of conditions precedent.
VINCI Highways has announced signature of an agreement to acquire from the Patria fund a 55% majority stake in the Entrevias motorway concession, which crosses São Paulo State from north to south. The concession, with a remaining term of 25 years, includes two sections with a cumulative length of 570 km that recorded around 30 million transactions in 2021. The concession company is remunerated by collection of tolls (traffic risk concession). The contract covers: · Operation and maintenance of a 299 km section in the north of São Paulo; · Operation and maintenance of a 271 km section in the south of São Paulo, together with works, already started and scheduled for completion by end 2025, to widen the section from 2x1 to 2x2 lanes over 210 km. Financial closure to acquire the Patria’s stake is expected in 2023 after waiving of conditions precedent.
