PLMJ advises on the sale of SPER and Planestrada

PLMJ advised a consortium of shareholders on the sale of all the shares and credits of Planestrad, the Portuguese company for road construction, and operation and maintenance.

The consortium of sellers represented by PLMJ included Banco Comercial Português, Novo Banco, ACS Group, Tecnovia and Conduril.

The transaction was led by Corporate M&A partner Diogo Perestrelo and lawyers Nuno Marques, Elsa Pizarro Pardal and Carolina Sá Duarte.

SPER holds the sub-concession until 2039 of the road link between Évora, Beja and Castro Verde for a total of 113.4 km (Baixo Alentejo sub-concession). Planestrada is responsible for operating and maintaining the sub-concession.

The buyer is an entity owned by an investment fund managed by Vauban Infrastructure Partners, a long-term investor with around EUR 4.4 billion of assets under management in over 50 operations.

The transaction, which is still subject to conditions precedent, is scheduled to be concluded in the first half of 2021.