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Ferrovial sells 65 percent of Malaga's Ausol toll roads to Meridiam

Sector: Road • Location: Malaga, Spain

Source: Highways Today

Project
Closed

Ferrovial, through Cintra, has reached an agreement to sell 65% of Ausol I and Ausol II toll roads, in Malaga, to French infrastructure fund Meridiam for €447 million. The deal will provide Ferrovial with a capital gain of €474 million and enable it to deconsolidate the project’s gross debt, amounting to €603 million (€542 million net debt). Closure of the transaction is subject to obtaining the n

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The project “Ferrovial sells 65 percent of Malaga's Ausol toll roads to Meridiam” is an infrastructure initiative in the Road sector, located in Malaga, Spain. Taiyo aggregates data on it from Highways Today.

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Description

Description

Ferrovial, through Cintra, has reached an agreement to sell 65% of Ausol I and Ausol II toll roads, in Malaga, to French infrastructure fund Meridiam for €447 million. The deal will provide Ferrovial with a capital gain of €474 million and enable it to deconsolidate the project’s gross debt, amounting to €603 million (€542 million net debt). Closure of the transaction is subject to obtaining the necessary official approvals. The sale of this stake in Ausol is part of Ferrovial’s asset rotation strategy. Ausol I opened to traffic in 1999 and its concession expires in 2046; the Ausol II concession, which became operational in 2002, expires in 2054. Together they make up a 105-kilometre road linking Malaga and Guadiaro, in southern Spain. Cintra will continue to maintain the road in partnership with Meridiam.

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