Hermes Infrastructure has agreed to purchase a 74 percent stake in six shadow toll concessions in Spain, valued at €950 million ($1 billion).
The purchase marks Hermes’ first investment in Spain.
The seller is Iridium Concesiones de Infraestructuras, a wholly-owned company of ACS Group (Actividades de Construccion y Servicios), which will maintain a 26 percent equity stake and continue to play an active role in the management, operations and maintenance of the assets. Iridium develops, finances, invests in, manages, operates, maintains, conserves, restores and equips a variety of government concessions involving transport and public works infrastructure.
The portfolio includes two concessions in Catalonia (Eix Diagonal and Reus-Alcover), one in Castilla la Mancha (Autovia de la Mancha), one in Castilla y Leon (Autovia de los Pinares), one in Navarra (Autovia del Pirineo) and one in Galicia (Santiago-Brion), according to Hermes. The six concessions, with a to
