Ascendi Group – Ardian

Ascendi Group and Ardian become partners in significant portuguese motorway network acquisition

Ascendi Group, one of the leading operators of Portuguese motorways, and Ardian, the independent private investment company, today announce the signing of an agreement to jointly own and operate one of the largest toll-road networks in Portugal.

Ardian and Ascendi Group will each take a 50% stake in Ascendi PT II, the holding company which will acquire Ascendi Group’s existing assets. The network comprises five motorways in Portugal covering a total distance of 500km, primarily located in the north of the country and the Lisbon region:

– Auto-Estradas da Grande Lisboa
– Auto-Estradas do Grande Porto
– Auto-Estradas do Norte
– Auto-Estradas da Costa de Prata
– Auto-Estradas das Beiras Litoral e Alta

Ardian will invest €300 million in the partnership. Ascendi Group currently holds stakes in each of these assets ranging from 66% to 80%.

The proposed transaction is conditional on gaining the required regulatory and contractual approvals.

Mathias Burghardt, Member of the Executive Committee and Head of Infrastructure at Ardian, said: “This joint deal is a great example of our strategy to partner with a range of specialist infrastructure operators throughout Europe over the long-term, strengthening our network in the process. This transaction will pave the way for Ardian to explore further the Portuguese infrastructure landscape.”

Gonçalo Moura Martins, CEO of Ascendi Group, said:“The partnership announced today with Ardian is very relevant for the growing visibility of the Ascendi brand and emphasizes the recognition of the high standard and specialized know-how in transport infrastructure management by Ascendi.

This deal represents also an important investment of an international partner that will reinforce the capacity to continue to develop its strategy to become a leading infrastructure player through sustainable growth”.

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