VINCI Highways, VINCI Concessions’ international highways subsidiary, has signed an agreement with Brazilian group INVEPAR for the acquisition of 100% of LAMSAC company, concessionaire-holder of Línea Amarilla toll road in the center of Lima, and PEX, LAMSAC’s electronic toll collection operator. The deal is based on an enterprise value of LAMSAC and PEX at PEN 5.5 billion (around EUR 1.5 billion) as of 31 December 2015.
LAMSAC holds a concession contract with the Municipality of Lima to build, operate and maintain the 25km-toll road, valid until November 2049. The transaction will be finalised and the operations are transferred in the second half of 2016, once the required approvals have been obtained.
In 2015, traffic on LAMSAC averaged 134,000 vehicles/day. Traffic will further increase following the completion of a new section under construction. With an average annual growth rate of more than 6% over the past 10 years, Peru features a very attractive economy.
This transaction is part of VINCI Concessions’ strategy of expansion in an area with strong growth potential. On 21 April 2015, VINCI Airports notably won the concession contract for the international airport in Santiago de Chile as part of a joint venture, which began operating the airport in October 2015. The construction of a new terminal, which will get under way soon, is expected to double the airport's capacity.
More broadly, this transaction reflects the VINCI Group's expansion goals in Latin America. With the acquisition of the Brazilian Orteng Engenharia e Sistemas company in March 2015, VINCI Energies began operating in Brazil, where it has become a leader in services linked to energy and industry. More recently, the Group formed a strategic partnership with Constructora Conconcreto, a leading Colombian construction and real estate development company, to help support Colombia’s major road infrastructure development projects.
About VINCI Highways
Active in 11 countries, VINCI Highways, subsidiary of VINCI Concessions, finances, builds and operates roads and highways infrastructures worldwide. In association with local partners, it manages a network of 23 concessions with more than 1,600 km of highways and crossings and nearly 1,300 km of urban roads. In 2015, VINCI Highways recorded a combined revenue of 611 million euros.
VINCI is a global player in concessions and construction, employing more than 185, 000 people in some 100 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, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible 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.