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NewswireTODAY - /newswire/ -
Nanterre, Hauts-de-Seine, France, 2022/12/01 - VINCI Highways, a VINCI Concessions subsidiary, announces 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 - Entrevias.com.br / VINCI.com. CAC 40; Euronext 100
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https://www.vinci.com/vinci.nsf/en/press-releases/pages/20221201-1745.htm
• Acquisition of 55% of Entrevias (entrevias.com.br), which holds the concession for two tolled 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.
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.
The new project also strengthens VINCI Concessions' positioning in Brazil, strongest economy and most populated country in Latin America, after the acquisition by VINCI Airports of Salvador de Bahia Airport in 2017 and of seven Amazonian airports in 2021.
This operation allows VINCI Highways, already 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 Energies has been active in energy, industry and infrastructure services in Brazil since 2015.
About VINCI
VINCI (vinci.com) is a global player in concessions, energy and construction businesses, employing more than 260,000 people in nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects 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 activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.
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