Abertis wins four toll roads in Puerto Rico in a new stage of growth with the support of its shareholders
Abertis, the world's leading infrastructure management group, has won the Puerto Rico tender to upgrade, operate and maintain four new toll roads over the next 40 years. The Group's offer to pay $2.85 billion for the concession was the most competitive bid submitted in the bidding process.
In operating the new concessions, Abertis is going to leverage the operational efficiencies of Metropistas, its Puerto Rican subsidiary, of which it is the majority shareholder. With this new award and under Puerto Rico's Public-Private Partnership Law, Abertis will manage the PR-52, PR-66, PR-20 and PR-53 highways, in addition to the ones it was already running in Puerto Rico, such as PR-22, PR-5 and the Teodoro Moscoso Bridge.
The shareholders will contribute €1.3 billion to support the financing of this operation in Puerto Rico and the acquisition of the SH-288 in Houston (Texas) for $1.53 billion, maintaining an optimal capital structure, in accordance with Abertis' commitment to maintain its credit rating. The transaction will also be financed with new bank debt and company available cash. This contribution is part of the new strategic collaboration agreement between Mundys and ACS to strengthen Abertis' global leadership in transport infrastructure concessions.