Colombian developer Conconcreto will sell a 50% stake in the Bogotá-Girardot third lane toll road concession to Vinci Highways, a subsidiary of France’s Vinci Concessions.
The transfer of the 50% stake in the concession to Vinci will allow the company to continue to seek infrastructure concession opportunities, Conconcreto said in a statement to the national financial regulator Superfinanciera.
The transaction is still pending approval from Colombia’s national infrastructure agency ANI.
For more information about the deal, click here.
In August 2016, ANI awarded the COP 1.71tn (USD 575.4m) Bogotá-Girardot third lane toll road concession to Conconcreto. The project began in 2013, following an unsolicited bid.
The winning consortium – which was not the original bidder – requested the lowest level of toll payments over the next 27 years (COP 2.37tn). ANI had said the proponents could request up to COP 2.97tn.
The concession involves upgrading and operating 154.8km of road between Bogotá and Girardot, which lies southwest of the capital in the department of Cundinamarca.
The works will add a third lane in each direction, expanding the current two-lane highway.