The ACS Group, through its subsidiary Iridium, has fully executed the purchase and sale contract with the Hermes fund for 74% of six Spanish "shadow toll" highways (the construction company finances the road, conserves it and charges a fee by use), which has been communicated to the National Securities Market Commission (CNMV).
Iridium (ACS) and Hermes agreed on the operation on November 26, which will report a capital gain of 40 million euros to the group chaired by Florentino Pérez and will allow it to keep the remaining 26% of capital and continue managing assets.
The six sections of "shadow toll" motorway represent a combined value of 950 million euros, recalls ACS.
The portfolio of assets sold includes two highways in Catalonia (Eix Diagonal and Reus-Alcover), one in Castilla- La Mancha (Autovía de la Mancha), another in Castilla y León (Autovía de los Pinares), one more in Navarra (Autovía del Pirineo) and a sixth in Galicia (Santiago-Brion).
Iridium will have a "very significant" presence in the companies' administrative bodies and in the daily management of concessions, says ACS.