Colas is selling its 16.67% stake in Cofiroute to VINCI Autoroutes
20 December 2013 - Acquisitions - France
Colas and VINCI Autoroutes have reached an agreement whereby Colas is to sell its 16.67% stake in Cofiroute to VINCI Autoroutes. The transaction is priced between a minimum of €780 million and a maximum of €800 million, subject to certain operational assumptions being realised over the 2014-2015 period. The transaction will be concluded on 31 January 2014 at the latest.
Cofiroute is the concession company of 1,100 km of motorways in western France and the A86 Duplex tunnel in the Paris region.
VINCI is a global player in concessions, energy and construction businesses, employing more than 260,000 people in nearly 120 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, we are committed to operating in an environmentally, socially responsible and ethical 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. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.