PLMJ advises on the sale of SPER and Planestrada

PLMJ has advised the sellers on the sale of both toll road companies to a fund managed by Vauban Infrastructure Partners

PLMJ advised a consortium of shareholders on the sale of all the shares and credits of the Sociedade Portuguesa para a Construção e Exploração Rodoviária and Planestrada Operação e Manutenção Rodoviária. The consortium integrates the Portuguese Commercial Bank, New Bank, ACS Group, Tecnovia and Conduril.

SPER holds the sub-concession until 2039 of the road link between Évora, Beja and Castro Verde for a total of 113.4 km (Baixo Alentejo sub-concession). Planestrada is responsible for the operation and maintenance of the sub-concession.

The buyer is an entity owned by an investment fund managed by Vauban Infrastructure Partners, a long-term investor with about €4.4 billion of assets under management in over 50 operations.

The completion of the transaction, still subject to conditions precedent, is scheduled for the first half of 2021.

PLMJ´s team was led by Corporate and M&A partner Diogo Perestrelo (pictured), and involved senior associate Nuno Marques, senior counsel Elsa Pizarro Pardal and associate Carolina Sá Duarte.

Antonio Jimenez Morato