It is a Portuguese group that goes to foreign domination. Mota-Engil and the New Bank closed the sale of the main assets of Ascendi the French fund Ardian Infrastructure for 600 million euros.
The operation was expected and its implementation suffered by delays due to the adopted configuration. Instead of selling the Ascendi block, eight of the main assets were transferred (except for Lusoponte) in Portugal and Spain.
Mota-Engil rises in stock
The New Bank always he said he seller of its 40% position in Ascendi, Mota-Engil admitted remain shareholder and reduce its 60% to a minority position.
the amount announced Wednesday by the actors in the business exceeds more optimistic forecasts of analysts. Mota-Engil receives at least 360 million. Thursday in exchange of its shares are up more than 6% to 1.81 euros.
Iberian Assets
In a statement sent to the Portuguese Securities Market Commission ( CMVM), Mota-Engil and the New Bank realize the eight Iberian assets that pass to Ardian: utilities of old Scut Beiras Litoral e Alta, Costa da Prata, Grande Porto, the subconcessions Pinhal Interior and Douro Interior and concessions North and Greater Lisbon, as well as the Autovía de los Viñedos, Spain.
the implementation of the contract depends on some corporate restructuring operations and various permits. The deal also included the sale of several operating companies and maintenance of concessions, also held by Ascendi.
Ardian already invested 300 million to buy half the capital of five of the concessions involved in this transaction.
operation can reach 653 million
The operation could reach 653 million. The Ardian Infrastructure “will pay a total amount of 600 million euros, to which can be added another 53 million by way of a price variable mechanism,” according to the statement of Antonio Mota group.
the New Bank also took a public position on the Ascendi business referring to the completion of the operation “will have a positive impact” on its capital ratio.
“This transaction is another important step in the process divestment of non-strategic assets of the new bank, which continues its strategy of focusing on banking, “the bank.
Lusoponte stays out
also Ardian said in a statement the signing of an agreement to purchase the shares of Ascendi Group in Ascendi II, the joint venture in Portuguese motorways which already had applied 300 million.
Ardian Infrastructure ” takes control of the five assets held so far together and still two portajadas roads Ascendi, “said the group.
Ascendi network is the second largest network of motorways in Portugal (following the Brisa), with more than 850 kilometers over seven portajadas roads.
outside of the deal with Ardian is the granting of Lusoponte and other assets abroad. The Ascendi group holds 50% of the Tiete Road, in Brazil, 50% of Copexa, Mexico, and 40% of the Estradas do Zambeze, Mozambique. In Spain, it has 50% of Auvisa and 15% of the concessionaire Autopista Madrid -. Toledo
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