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Globalvia has completed its stake up to 100% of A23 – Beira Interior (Scutvias) highway in Portugal

The company has finalized the transaction that began in February 2017.

Globalvia’s purchase of 100% of the shares in A23 – Beira Interior highway was finally completed on Friday, October 20. The transaction was carried out in three phases during 2017.

In February, Globalvia acquired the first block of shares and increased its stake up to 55%. In this transaction, Globalvia also became a majority shareholder in another Portuguese highway, Transmontana (Autoestradas XXI), located in the North of Portugal.

In July, Globalvia increased its stake up to 78% of the shares, and in October 20 the company completed the acquisition of 100% of the shares by acquiring the remaining 22%.

This acquisition is part of the company’s expansion strategy, which is focused on both acquiring new assets in OECD countries and increasing and consolidating its shareholding in the strategic assets of its current portfolio.

The A23 – Beira Interior (Scutvias) highway, located in the centre of Portugal between the towns of Abrantes and Guarda, is 198 km long and has traffic of more than 22 million vehicles a year. Its concession was awarded in October 1999 and the concession period ends in 2035.