Bogotá-Girardot motorway in Colombia: VINCI Highways acquires a majority interest in Via 40 Express and finalises the project's long-term financing

19 April 2023 - 6:30 pm - Acquisitions - Colombia

• VINCI Highways will hold a 75% controlling interest in Via 40 Express's concession
• It has finalised long-term financing in a total amount of approximately €535 million
• It continues to upgrade the entire Bogotá–Girardot motorway

VINCI Highways, a VINCI Concessions subsidiary, has concluded the acquisition from its Colombian partner Constructora Conconcreto of an additional stake in Via 40 Express (the company that operates the Bogotá–Girardot motorway concession). VINCI Highways has thereby acquired a controlling interest in Via 40 Express (increasing its holding from 50% to 75%), which will henceforth be fully consolidated in the VINCI Group's financial statements.

Concurrently, VINCI Highways finalised the long-term financing of Via 40 Express for an amount of 2,675 billion Colombian pesos (€535 million). The operation is divided into a 1,775 billion peso (approximately €355 million) long-term tranche maturing in 12, 15 and 20 years and a 900 billion peso (approximately €180 million) revolving credit facility. This is one of the largest financial transactions in Colombia's infrastructure sector.

The Bogotá–Girardot motorway is the busiest in Colombia. Under a concession contract including a traffic level risk signed in 2016, VINCI Highways operates the motorway and is fully revamping it, through Via 40 Express. This includes construction of a third lane over a 65 km stretch to increase the motorway's capacity and meet growing demand. The first sections of this new lane will open to traffic by the end of 2023, and the last are due to be completed in 2026.

About VINCI Highways
VINCI Highways, a VINCI Concessions subsidiary, is a leader in road concessions, operations and mobility services. We design, finance, build and operate motorways, bridges, tunnels, urban roads and digital mobility services on a network of more than 4,000 km in 15 countries. VINCI Highways leverages its expertise to deliver the highest performance and safety standards and treat drivers to a positive experience.

 

About VINCI
VINCI is a global player in concessions, energy and construction, employing 280,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.