Vinci buys Peruvian road concession
Vinci Highways has become a road concessionaire in Peru through the PEN5.5bn (£1.2bn) acquisition of Lamsac and its toll-collection subsidiary Pex.
The concession covers the construction, operation and maintenance of a 25km-toll road, the Linea Amarilla highway, in the centre of Lima. Lamsac is the concessionaire and Pex operates the associated electronic toll collection system.
The road carried 134,000 vehicles a day in 2015 and the concession will run until November 2049. Traffic is set to increase further following the completion of a new section under construction.
Vinci signed an agreement with Brazilian group Invepar the whole of Lamsac - which holds the concession – and Pex, Lamsac’s electronic toll collection operator. The deal is based on an enterprise value of Lamsac and Pex of PEN5.5bn as of 31 December 2015.
The aim is for the transaction to be finalised and the operations transferred this year, once the required approvals have been obtained.
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This article was published on 8 Aug 2016 (last updated on 8 Aug 2016).