Five bidders have submitted binding offers for an 80% stake in Portugal’s largest toll road operator Brisa owned by Arcus Infrastructure Partners’ and Grupo José de Mello.
The sellers received the five bids on the scheduled deadline on Wednesday (8 April) and are likely to select a winner of the auction soon after the Easter break, two sources close to the situation said. The sale is progressing despite Brisa’s main concessionaire declaring force majeure due to the coronavirus crisis.
The bidders included Spanish road operator Globalvia; French fund manager Ardian in consortium with Italian motorway company Gruppo Gavio; and Dutch pension fund APG, the two sources and other sources close to the transaction said.
The other bidders that passed to the final bidding round and submitted final offers are Spanish motorway group Abertis with Singapore’s GIC; and a consortium comprising China State Construction Engineering Corporation (CSCEC), CNIC Corporation and China-Portuguese-speaking Countries Cooperation and Development Fund, the first two sources close said.