VINCI undertakes a strategic partnership with the Constructora Conconcreto Company in Colombia
10 July 2015 - 8:00 pm - Acquisitions - Colombia
- Cooperation in infrastructure project development
- Acquisition of a 20% stake in the company
VINCI has announced a strategic partnership with Constructora Conconcreto, a leading Colombian construction and real estate development company. This partnership is subject to finalisation of the agreements and the customary closing conditions. It will take the form of a cooperation agreement primarily focused on Colombia’s major infrastructure projects going forward. It will have the benefit of VINCI’s expertise in concessions and contracting and can result in the establishment of dedicated joint ventures in the various business activities concerned. The partnership will also involve VINCI’s acquisition of a 20% stake in Constructora Conconcreto via a reserved capital increase.
Constructora Conconcreto is Colombia’s second-largest construction and property development group, with €320 million revenue in 2014 and 4,800 employees.
“This agreement is a further illustration of the VINCI Group’s expansion strategy in countries with high growth potential. VINCI is very proud to be associated with, and to bring its expertise to, an acknowledged leader in the Colombian construction and property development sector. This partnership will enable the Group to take part in and support Colombia’s ambitious infrastructure development programme,” said VINCI’s Chairman and Chief Executive Officer, Xavier Huillard
VINCI’s ambition is to put down long-term roots in Colombia, one of the most dynamic countries in South America. For about a decade, the country has regularly recorded annual GDP growth in excess of 4%. The construction sector is particularly promising, with volume expected to increase by 5% annually in coming years.
VINCI is a global player in concessions and construction, employing more than 183,000 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.