Vinci acquires majority stake of Brazillian motorway
06 December 2022
Vinci Highways, a Vinci Concessions subsidiary, has announced an agreement to acquire a 55% majority stake from the Patria Fund in the Entrevias motorway concession in Brazil.
The concession, which crosses São Paulo State from north to south, includes two sections with a total length of 570 km. The motorway concession is said to have recorded around 30 million transactions in 2021.
The contract will include the operation and maintenance of a 299 km section in the north of São Paulo and another 271 km section in the south to widen the section from 2x1 to 2x2 lanes over 210 km. Works have already started and are scheduled for completion by the end of 2025.
Financial closure to acquire the stake is expected in 2023 after waiving conditions precedent.