Lisbon Bridges Concessionaire Stake Snatched from Marubeni by Mota-Engil and Vinci

 

Lusoponte, the concessionaire company of the 2 major bridges serving Lisbon, Portugal, will soon be controlled by Mota-Engil, whose second biggest shareholder is China’s CCCC.

Mota-Engil will exercise their right of preference to acquire part of the stake in Lusoponte, put up for sale by Atlantia, increasing its stake to 50.7%, according to the Portuguese press.

The remaining 49.3% of Lusoponte, that operates the 25 de Abril and Vasco da Gama bridges,  will be owned by Vinci Highways, which has also exercised the same right.

The 17.21% of Lusoponte held by Atlantia through Autostrade Portugal will ultimately be controlled by the two main shareholders. The Italian company had agreed to sell its stake to MM Capital Partners, a subsidiary of Japanese conglomerate Marubeni, for EUR 55.7 million.

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But the deal depended on the two largest shareholders, Lineas (Mota-Engil) and Vinci Highways, not exercising their right of preference in the acquisition.

According to ECO and Negocios, Mota-Engil will pay EUR 28.24 million to buy an additional 8.72% of the capital, and Vinci Highways will pay EUR 27.46 million for 8.48% of Lusoponte

Mota-Engil and Vinci had already exercised, in 2018, the right of preference in the sale of 7.5% of Teixeira Duarte to Companhia de Investimento China-Portugal Global for EUR 23.3 million.

 

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