APG team to buy Brisa majority stake for around 11x

28 April 2020 - 12:00 am UTC

An APG Asset Management-led consortium is set to buy a majority stake in Portugal’s largest toll road operator Brisa for an equity value of over EUR 3bn, despite uncertainty over future traffic flows.

The consortium, which is also led by the National Pension Service of the Republic of Korea (NPS) and include Swiss Life Asset Managers, said in a statement on Tuesday (28 April) that it has agreed to buy 81.1% in Brisa from Portuguese investment group José de Mello and Arcus European Infrastructure Fund 1.

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