Arcus Infrastructure Partners and José de Mello are set to shortlist bidders for the sale of up to 80% of Portuguese toll road operator Brisa after receiving initial offers in December, according to sources close and familiar to the process.
Three sources familiar with the situation said the sellers could shortlist bidders for Brisa, which operates 1,525km of roads across Portugal, as soon as week starting 13 January, although a fourth source close to the deal said it could take longer.
The sources close said that at least four teams submitted non-binding offers including Ardian Infrastructure, Globalvia, Abertis and Marubeni, although according to sources familiar the list is much bigger.
Ardian is in consortium with Italian motorway company ASTM, part of Gruppo Gavio, and is being advised by Mediobanca, added one of the sources.
The French manager controls Ascendi, Portugal’s second largest motorway operator after Brisa itself, with 750km of roads under management.