Ashurst and Cuatrecasas instructed on Malaga metro transaction

Ashurst and Cuatrecasas, Gonçalves Pereira advised on a deal involving the acquisition of a 39 per cent stake in the Málaga metro by a consortium formed by the Australian investment fund Macquairie and the French investment company InfraVia.


Under the terms of the deal, the consortium bought the shares of Cajamar (18.86 per cent), Azvi (12 per cent) and Sando (8.57 per cent), through the Sevillian subsidiary Cointer. The transaction was valued at €108 million, which means the Málaga metro is now worth €274 million.

Ashurst advised InfraVia, according to Mergermarket, while Cuatrecasas, Gonçalves Pereira advised sellers Cajamar, Azvi and Sando on the transaction.

This purchase means the consortium is the majority shareholder in the Málaga metro. The remaining share capital is held by the Public Works Agency of the Regional Government of Andalusia, Comsa, FCC, Globalvía and Grupo Vera.

The Málaga metro has two lines totalling 11.3 kilometres in length and 17 stations. It has transported more than six million passengers since coming into operation in the summer of 2014.

Ashurst and Cuatrecasas instructed on Malaga metro transaction

Ben Cook

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