Italian team acquires full ownership of Chilean roads

Atlantia, SIAS and Mediobanca have paid €290m for the remaining 50% they didn’t already own in three Chilean toll road concessionaires. The seller was Spain’s Acciona.

A consortium of Italian toll road developers – Atlantia and SIAS together with local bank Mediobanca – has bought the 50 percent it didn’t already own in three Chilean toll road concessionaires, Atlantia announced in a statement.

The team paid €290 million to Spanish infrastructure group Acciona for 50 percent of Vespucio Sur, which holds the concession for a 24-kilometre section of urban motorway serving Santiago del Chile, the Chilean capital; 50 percent of Litoral Central, which manages a 79-kilometre stretch of a toll motorway along the coast to the north-west of Santiago del Chile; and 50 percent of Operalia, the firm responsible for road maintenance on the stretch operated by Vespucio Sur.

The consortium – in which Atlantia and SIAS hold 45.76 percent each and Mediobanca owns the remaining 8.47 percent – first bought into the three Chilean concessionaires in 2008. The purchase was part of Spanish construction group Sacyr’s sale of toll road operator Itinere to Citi Infrastructure Investors.

Autostrade Sud America, as the Italian consortium is known, also owns three other toll road concessionaires which operate some 70 kilometres of toll roads in the Chilean capital. UBS Investment Bank provided financial advice to Atlantia on the acquisitions.