55.2% Abertis, 44.8% Manulife Investment Management
Description of the transaction
On 30 December 2020, Abertis and Manulife Investment Management completed the acquisition of a 100% interest in Elizabeth River Crossings (ERC) from Macquarie Infrastructure Partners II and Skanska. ERC holds the concession to operate two tunnels on a highly travelled road in Virginia (USA). The concession, which has already been in effect for a number of years, has a remaining duration of 50 years.
Strategic rationale for the transaction
The transaction allowed to build a platform for growth in the USA, a key market for the group and one of the most important in the world in terms of infrastructure investment. The acquisition of ERC also extend the average life of Abertis’s portfolio.