Patria and GIC win 1,273km highway concession in São Paulo

08 January 2020 - 12:00 am UTC

A consortium formed by Pátria Investimentos and Singapore’s GIC won the auction for the 1,273km Piracicaba-Panorama highway with a BRL 1.1bn (USD 270m) bid.

The auction was held in the Brazilian stock exchange B3, in São Paulo, on 8 January.

The consortium, named Infraestrutura Brasil, was advised by Necton Investimentos and its bid represents a premium of 7,209% over the minimum concession´s fee of BRL 15m.

Ecorodovias also participated on the auction with a BRL 527m bid. The company was advised by the Brazilian investment bank BTG Pactual. 

The 30-year concession has a total capex of BLR 14bn. The concessionary will invest around BRL 1.5bn in the first two years in the duplication of 600km of highway and other improvements.

“The highway sector is extremely strategic for our development, besides being the main transport alternative in the country”, said Otavio Castello Branco, managing partner of Pátria. “With this victory, Pátria Investimentos reinforces its commitment to be one of the leading figures on promoting the country’s development”, he added.

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