Globalvia buys two highways in Chile from Brookfield

Globalvia has acquired from the Canadian manager Brookfield its 34% stake in two assets located in Santiago de Chile, which operate the Vespucio Norte highway and the San Cristóbal tunnel.

With this acquisition, the Spanish concessionaire adds two new assets to its portfolio which, together with the three it currently has in Chile, add up to more than 430 kilometers of concession in the country.

Worldwide, it has 29 assets in seven countries and these two new concessions strengthen its position in Chile, where it already operates the Itata highway, the Aconcagua highway and the Costa Arauco highway, which was acquired in 2017.

Vespucio Norte has 17 barrier-free porches along its 29 kilometers that serve eight communes in the capital, being a key artery for daily transportation in the Chilean capital. This highway connects through the 1.8 kilometer San Cristóbal tunnel with Providencia, Vitacura, Las Condes, Santiago Centro and Ñuñoa.

The operation is part of Globalvia’s long-term international growth strategy, driven by its shareholders: the pension funds OPTrust (Canada), PGGM (Netherlands) and USS (United Kingdom).

Globalvia has been advised in this transaction by Banco Santander, E&Y, VTM, Typsa, AON, and Munita & Olivarría. Globalvia’s legal advisor in the operation has been Barros & Errázuriz.

The operation is subject to the approval of the shareholding change by the entities that participate in the financing of the assets, so the closing date of the transaction will depend on it.

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