Cintra sells remaining Chile stake

18 November 2011

Ferrovials' toll road operation subsidiary Cintra has sold its remaining 40% stake in Intervial Chile, formerly Cintra Chile to Interconexión Eléctrica (ISA). ISA acquired a 60% stake in Cintra last September and was granted a call option to buy the remaining 40%, which it has now exercised.

This latest transaction is valued at € 160 million (US$ 216 million). Last year ISA paid € 209 million (US$ 282 milion) for its first 60% stake in Intervial Chile, for a total valuation of € 369 million (US$ 498 million). Intervial Chile operates 907 km of toll roads in Chile.

ISA is a Colombian company which designs builds and operates infrastructure in Brazil, Peru, Bolivia, Chile, Panama and Central America. It's businesses include electricity transmission, infrastructure construction, telecommunications, energy markets operation and management, and road development under concession contracts.

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