Macquarie Capital agreed to acquire the Briceño-Tunja-Sogamoso highway, its first concession in Colombia, from local developer CSS Constructores, according to a 10 February statement from Colombia’s Ministry of Transport.
The Ministry said the change of ownership will facilitate construction works on the 206km road that have experienced issues since 2014, even before current 100% sponsor CSS became embroiled in the Lava Jato corruption scandal, that led to the ongoing prosecution of owner Carlos Alberto Solarte.
The government’s announcement did not mention the price Macquarie has agreed to pay for the asset, but said the parties expect to perfect the agreement in 1H20.
The Ministry said that Macquarie Capital is acquiring the asset.
Macquarie has been negotiating with CSS for several of its assets since at least May 2019, advised by local law firm Gómez Pinzón.
Local firms Bonus Banca de Inversión and Brigard & Urrutia are CSS’ financial and legal advisors in the negotiations.
Macquarie is interested in acquiring additional CSS assets and continues negotiating with the group, according to a source close to the process.