VINCI increases stake in Greek bridge concession

VINCI has increased its stake in a key Greek bridge concession.
Finance & Funding / November 29, 2022 1 minute Read
By MJ Woof
VINCI has increased its stake in the Rion–Antirion Bridge in Greece – image courtesy of © Ollirg | Dreamstime.com


VINCI Concessions has increased its stake the Rion–Antirion bridge in Greece. This followed approval from the lenders and concession-granting authority – the Greek Ministry of Infrastructure and Transport. This allowed VINCI to increase its majority stake in Gefyra and Gefyra Litourgia.

Gefyra is the company that holds the concession for the bridge and VINCI increased its stake from 57.5% to 72.3%. Gefyra Litourgia is the company that operates the bridge and VINCI increased its stake from 55.3% to 70.5%.

The acquisition was carried out in conjunction with Aktor, following the disposal of a stake by Avax. The price amounted to approximately €60 million in total for both shareholders.

The 2.8km Rion–Antirion Bridge was designed, financed, built and is operated by VINCI Concessions and its Greek partners under a 42-year concession (expiring in 2039). The bridge links the Peloponnese to mainland Greece and generated approximately €38 million in revenue in 2021. The bridge connects to the Olympia Odos motorway concession, which VINCI is extending to the city of Pyrgos.

Through this operation, VINCI Concessions, which operates a 544 km motorway network in Greece, continues to strengthen its long-term commitment to developing the country’s infrastructure.
 

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